Italcementi Group, via its affiliate CimFra (China) Limited S.A.S., has disposed of its 5.24% stake in West China Cement for upfront consideration of HK$341 million, equivalent to approximately €38. 5 million, subject to later adjustments through a derivative contract with Credit Agricole CIB.
The disposal of the minority WCC stake has no impact on EBITDA generation capacity at Group level.
Adapted from press release by Joseph Green
Read the article online at: https://www.worldcement.com/asia-pacific-rim/21092015/italcementi-group-disposes-stake-631/