Holcim sells Siam City Cement shareholding
Holcim has sold its remaining 27.5% stake in Thailand’s Siam City Cement Company Ltd (SCCC) via a private placement in capital markets. A member of Hong Kong-based conglomerate, Jardine Matheson Group, has purchased 24.9% of Holcim’s share in SCCC. The other 2.6% has been acquired by a number of institutional investors.
The sale of the shareholding will bring Holcim around CHF655 million, resulting in a gain before taxes of some CHF365 million. The construction materials producer has said that this will be used for ‘general corporate purposes’.
SCCC employs over 4000 people and has the capacity to produce 14.5 million t at its Saraburi cement plant.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/30032015/holcim-sells-remaining-stake-in-siam-city-cement-600/
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