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ASEC Cement to sell ASEC Minya and ASEC Ready Mix

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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/


 

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