Qalaa Holdings concentrates on core assets, including cement
Published by Katherine Guenioui,
Editor
World Cement,
Qalaa Holdings is to acquire stakes in companies with leading positions in the energy, cement and transportation sectors. In a deal with co-investor Financial Holdings International (FHI), Qalaa Holdings is divesting assets in non-core business areas and acquiring stakes in subsidiaries that are core to Qalaa’s future as a holding company.
Qalaa is selling is stakes in MENA Homes, Grandview and Dina Farms Land Companies to FHI, and acquiring FHI’s stakes in cement company ASEC Holding, TAQA Arabia and Mashreq (energy), Nile Logistics (transportation), Dina Farms Supermarkets (food retail chain) and United Foundries (metallurgy).
The transaction will reduce Qalaa’s consolidated debt by ~EGP800 million and is due to close in December 2015.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/africa-middle-east/25062015/qalaa-holdings-concentrates-on-core-assets-including-cement-68/
You might also like
The World Cement Podcast - CleanTech & Venture Capital
Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.
Tune in to the World Cement Podcast on your favourite podcast app today.