EXCLUSIVE-Colombia's Grupo Argos approaches Summit Materials about merger-sources
June 13 (Reuters) - Grupo Argos ARG.CN, a Colombian industrial conglomerate spanning energy and building materials, has approached U.S. aggregates and cement maker Summit Materials Inc SUM.N about a merger, people familiar with the matter said on Thursday.
The deal would bolster Grupo Argos' U.S. footprint and illustrate how building materials companies in emerging markets are seeking to become consolidators of their sectors in more mature economies.
Grupo Argos sees value in combining Cementos Argos SA CCB.CN, one of its subsidiaries, with Summit Materials and gaining scale, the sources said. However, there is no certainty that Summit Materials will negotiate a deal with Grupo Argos, the sources added.
The sources asked not to be identified because the matter is confidential. Grupo Argos and Summit Materials did not immediately respond to requests for comment.
(Reporting by Greg Roumeliotis and Harry Brumpton in New York; Editing by Dan Grebler)
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