Added to YB: 2026-08-26
Pitch date: 2026-08-18
CPAC [neutral]
Cementos Pacasmayo S.A.A.
+3.14%
current return
Author Info
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Company Info
Cementos Pacasmayo S.A.A. produces, distributes, and sells cement and cement-related materials in Peru.
Market Cap
PEN 3.4B
Pitch Price
PEN 11.78
Price Target
13.00 (+7%)
Dividend
5.13%
EV/EBITDA
7.01
P/E
16.09
EV/Sales
2.05
Sector
Construction Materials
Category
special_situation
Monthly SpreadHunters Monitoring - Cementos Pacasmayo
CPAC (quick overview): M&A arb: Holcim closed its 50.01% stake (Mar 30) and on Jun 15 opted to bid for 100% of remaining shares (not just the 24.99% minimum), intending to delist ADSs from NYSE. Implied reference price ~$13/ADR vs ~$11.88, ~8.6% discount/~9.4% gross upside; JPMorgan PT $13. Deal certainty high; main risk is regulatory timing — SMV has yet to appoint the independent valuation entity that sets the minimum price, and has raised disclosure scrutiny (Letter 3113-2026), pushing out the timeline. Operationally strong: H1 2026 EBITDA S/352.7M (+33.1%), net profit S/159.2M (+58.4%), volumes +13.6%. Note ~$13 is an implied reference, not a formal offer price.
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