Holcim sells minority stake in Siam City Cement Company
Holcim Ltd today announces that it has sold its entire remaining shareholding of 27.5 percent in Siam City Cement (Public) Company Limited (SCCC) in Thailand via a private placement in capital markets. For the sale of its entire remaining stake, Holcim will receive a total consideration of approximately CHF 655 million, which will result in a gain before taxes of approximately CHF 365 million.
Of the 27.5 percent, 24.9 percent were acquired by a member of the Jardine Matheson Group, a Hong-Kong-based conglomerate, while the remaining 2.6 percent were purchased by a number of high quality institutional investors.
The proceeds of the sale will be used for general corporate purposes. The transaction will close as per standard SET (Stock Exchange of Thailand) settlement rules.
SCCC is a leading construction materials group which has a cement production capacity of 14.5 million tonnes at its Saraburi plant. With more than 4,000 employees, the company recorded net sales of THB 31.86 billion in 2014.
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Holcim is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel and sand) as well as further activities such as ready-mix concrete and asphalt including services. The Group holds majority and minority interests in around 70 countries on all continents.
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