SAO PAULO, May 23 (Reuters) - Brazilian wood panel manufacturer Duratex SA has agreed to acquire ceramic tile maker Cecrisa for 539 million reais ($132.6 million), the company said in a securities filing on Thursday.
Duratex, controlled by Itausa Investimentos SA, will pay half of the price in cash immediately, and the rest after completion of certain undisclosed conditions. Brazil’s antitrust watchdog CADE still has to approve the deal, Duratex said.
Cecrisa owns three plants, has 1,700 employees, and had a net revenue of 652 million reais last year. ($1 = 4.0652 reais) (Reporting by Tatiana Bautzer; editing by Jonathan Oatis)