Having secured a deal with Irish cement maker CRH Plc to purchase the Philippine assets of Lafarge SA, Aboitiz Equity Ventures Inc has announced that it plans to invest US$531 million in the cement business.
The announcement comes after Holcim and Lafarge declared that CRH would buy some of their assets for US$7.12 billion.
Aboitiz announced in May that it was hoping to partner with CRH to purchase Lafarge's assets in the Philippines.
The transaction is predicted to close within the second half of 2015.
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