Danish trio to acquire stake in Power Cement
Published by Jonathan Rowland,
Editor
World Cement,
The Competition Commission of Pakistan has approved the acquisition of a minority stake in Power Cement Ltd by three Danish companies, including engineering company, FLSmidth.
According to commission documents, the acquisition of approximately 9.84% subscription shares in Power Cement by FLSmidth, Investment Fund for Developing Countries (IFU), and IFU Investment Partners (IIP) was approved on 6 December.
IFU is a Danish foundation acting as an agency of the Danish government, tasked with promoting sustainable investment in developing countries. IIP is an investment fund established by two Danish pension funds and managed by IFU.
FLSmidth, IFU, and IIP will pay around PKR 1.31 billion for the stake. In addition to acquiring a stake in Power Cement, FLSmidth currently holds a 2.7% stake in fellow cement maker, Maple Leaf Cement.
Read the article online at: https://www.worldcement.com/indian-subcontinent/12012018/danish-trio-to-acquire-stake-in-power-cement/
You might also like
World Cement Podcast
In the latest episode of the World Cement Podcast, Senior Editor David Bizley is joined by Dr Andrew Minson of the GCCA to discuss the ins and outs of the recently launched Low Carbon Ratings (LCR) system.
Responsible Capacity Growth, Powered by Your Data
As demand rises with urbanisation, manufacturers must meet growth targets while advancing 2030 and 2050 decarbonisation goals. AI Optimisation (AIO) technology is empowering teams with AI expertise to transform operations and accelerate their journey toward a smarter, more sustainable future.
