DMCI Holdings, Inc. and its units will acquire cement maker Cemex Holdings Philippines, Inc. for $305.6 million, the companies said on Thursday.
DMCI said it will acquire all of Cemex Asia B.V.’s shares in Cemex Asian South East Corp., which owns 89.86% of Cemex Philippines.
“Cement manufacturing will be a good, strategic addition to our business portfolio,” DMCI Chairman Isidro A. Consunji said in a statement.
Cemex Asia expects to finalise the divestment before end-2024. — Reuters
