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.
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The Civil Quarterly’s (TCQ) key business health findings suggest that heavy civil contractors are generally optimistic about business conditions, despite impacts of COVID-19.
