Skip to main content

Siam Commercial Bank sells Siam Cement stake

Published by
World Cement,


Siam Commercial Bank Pcl has announced that it has sold its stake in Siam Cement Pcl, amassing 4.46 billion baht (US$122.76 million) to assist in covering provisions for loans to struggling steel firm Sahaviriya Steel Industries.

Siam Commercial Bank's chief executive Arthid Nanthawithaya said the debt restructuring was expected to be completed in 1-2 weeks.

The Siam Cement stake sale is included in the 7-8 billion baht target. The shortfall will come from SCB's earnings.

The Siam Cement shares were sold to the Crown Property Bureau which is already a major shareholder in Thailand's biggest cement firm.


Edited from source by Joseph Green. Source: Reuters

Read the article online at: https://www.worldcement.com/asia-pacific-rim/25092015/siam-commercial-bank-sells-siam-cement-stake-664/

You might also like

 

 WCT2021

WCT2021

At WCT2021 you will hear from a range of industry leaders and technical experts as they discuss the key challenges facing the cement industry and the latest solutions on offer. Register for free today »

 

CEMEX strengthens presence in Guatemala

The company has announced that, as part of its growth strategy, it will increase capacity in Guatemala with the construction of a new cement grinding mill that is expected to be completed in early 2023.

 
 

Embed article link: (copy the HTML code below):