Holcim to Sell Philippine Unit to China's Huaxin for $807 Million
2 sources across 2 countries · Philippines · United Kingdom
Who reported this
- Philippine Daily Inquirer
- Reuters
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- Centre-left
- Centre
- Centre-right
- Right
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Switzerland based cement giant Holcim Group is selling its Philippine business to China's Huaxin Building Materials in a deal valued at approximately $807 million. Under the terms of the agreement, Holcim will sell an initial 67.623 percent stake to the Wuhan based company for $527 million. The Swiss firm will then divest its remaining stake of roughly 31 percent over the next three to five years for a minimum of $280 million. Holcim noted that the valuation may increase based on incremental value creation during that period.
Holcim is one of the largest cement manufacturers in the Philippines. The company operates four cement plants, one grinding mill, five ports, and a nationwide distribution network with an annual production capacity of 10 million metric tons. The business was previously delisted from the Philippine Stock Exchange in 2023 after Holderfin B.V. bought out minority shareholders to take full control. Holcim expects the sale of the majority stake to Huaxin to close in the first half of 2027, pending customary regulatory approvals.
How each side framed it
- Centre
- Outlets with a center lean provided a factual account of the transaction details and the operational scale of the business.
Sources
100% of the statements in this article were traced back to the source articles listed above.