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Colombian and Chilean builders to buy Intercoastal of Panama in $32 million

Thursday, May 19, 2011

Conconcreto, a Colombian builder, rose to its highest price in more than four months after it agreed to buy a part of Panama’s Intercoastal Marine.

Conconcreto and Salfacorp, Chile’s largest engineering and construction company, agreed to pay $32 million for 80 percent of Intercoastal.

The acquisition will be done through a Colombian joint venture between Salfacorp and Conconcreto.

Original source: Bloomberg