ASEC Cement to sell ASEC Minya and ASEC Ready Mix
Published by Joseph Green,
Editor
World Cement,
ASEC Cement, a subsidiary of Egypt's Qalaa Holdings, has announced that it intends to sell its stakes in ASEC Minya and ASEC Ready Mix to Misr Cement (Qena) for US$125 million.
The respective stakes in the two companies are 46.5% and 55%.
The deal should be finalised on or before 20 November, with the hope that the sale will help lower the debt of ASEC Cement by US$120 million.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/africa-middle-east/02112015/asec-cement-asec-minya-ready-mix-885/
You might also like
World Cement Podcast
In the latest episode of the World Cement Podcast, Senior Editor David Bizley is joined by Dr Andrew Minson of the GCCA to discuss the ins and outs of the recently launched Low Carbon Ratings (LCR) system.
Responsible Capacity Growth, Powered by Your Data
As demand rises with urbanisation, manufacturers must meet growth targets while advancing 2030 and 2050 decarbonisation goals. AI Optimisation (AIO) technology is empowering teams with AI expertise to transform operations and accelerate their journey toward a smarter, more sustainable future.
