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Cementos Pacasmayo plans to separate cement and phosphate operation

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World Cement,

Reuters are reporting that Cementos Pacasmayo, Peru, has announced plans to separate its cement operation and phosphate holdings into two independent public companies.

The company's ownership of Fosfatos Del Pacifico will be transferred to a separate entity, Fossal, that will in turn own 70% of Fospac.

The proposed corporate reorganisation is tax-free.

Fossal will retain same the directors and CEO.

Edited from source by Joseph Green. Source: Reuters

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