Portuguese conglomerate company Semapa has agreed to sell its entire share capital in cement maker Secil to Spain’s Molins for an enterprise value of €1.4bn ($1.63bn).
The transaction is part of Molins’ ongoing growth plan focused on profitability and long-term sustainability.
The move expands the Spanish company’s operations in Europe and establishes its first presence in Brazil, which was previously the only large market in Latin America where Molins did not operate.
Molins CEO Marcos Cela said: “This agreement is a key milestone in Molins’ strategy. Secil brings a solid international presence and a strong culture rooted in its family-owned industrial legacy, with values that we deeply share. Combining our strengths will allow us to grow with a more diversified and resilient profile, while reinforcing our commitment to sustainability.
“Together we will expand our offer of high-value, circular and low-carbon solutions for our customers, creating new opportunities for our people. I look forward to welcoming Secil’s 2,900 employees to Molins.”
Secil, established in 1930, operates within the cement sector both in Portugal and internationally.
The company has maintained its presence through expansion and operational activity in the industry.
Semapa CEO Ricardo Pires said: “Secil is part of Semapa’s origins and will always hold a special place in our history. I would like to express my appreciation to the Secil team for their remarkable journey of growth and value creation over the past years.
“This transaction is a strategic step for the Group, enabling us to strengthen our ability to invest, innovate and accelerate the strategy we have been implementing.
“We are pleased to see Secil join a relevant cement group with global presence and also owned by a family with a long-term vision, ensuring the company’s future development.”
The sale also forms part of Semapa’s ongoing portfolio management strategy designed to support industrial diversification and pursue long-term value creation.
Semapa plans to use proceeds from the transaction for further investment within its defined strategic framework and to strengthen its position across its portfolio.
With this divestment, Semapa will continue to focus on supporting its remaining subsidiaries and seeking new lines of growth.
The sale is positioned as a significant development in Semapa’s approach to resource allocation and investment priorities.
Molins plans to fund the transaction using its available cash, along with money from a syndicated credit facility and proceeds from a bond issue.
The deal is expected to close in the first quarter of 2026, subject to standard regulatory and contractual conditions.
JP Morgan and KPMG served as Molins’ financial advisors. Uría Menéndez provided legal advice. Deloitte conducted due diligence for financial, tax, legal, and labour matters on behalf of Molins.
