Consunji group acquiring Cemex PH for $305 million | ABS-CBN
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Consunji group acquiring Cemex PH for $305 million
Consunji group acquiring Cemex PH for $305 million
MANILA -- The Consunji group has struck a $305 million deal to buy cement maker Cemex Philippines.
MANILA -- The Consunji group has struck a $305 million deal to buy cement maker Cemex Philippines.
The two firms disclosed to the stock exchange the deal, which would see DMCI Holdings Inc., Semirara Mining, and Dacon Corporation taking over the Philippine unit of the Mexican cement giant.
The two firms disclosed to the stock exchange the deal, which would see DMCI Holdings Inc., Semirara Mining, and Dacon Corporation taking over the Philippine unit of the Mexican cement giant.
The transaction involves 42,140,266 common shares of Cemex owner Cemex Asian South East Corporation (CASEC).
The transaction involves 42,140,266 common shares of Cemex owner Cemex Asian South East Corporation (CASEC).
The transaction may be finalized before the end of the year, subject to the approval of regulators, including the Philippine Competition Commission.
The transaction may be finalized before the end of the year, subject to the approval of regulators, including the Philippine Competition Commission.
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Cemex Holdings Philippines said its operations will continue pending the deal's closing.
Cemex Holdings Philippines said its operations will continue pending the deal's closing.
Cemex Holdings Philippines reported a net loss of P662 million in the first half of 2023.
Cemex Holdings Philippines reported a net loss of P662 million in the first half of 2023.
DMCI Holdings, meanwhile, sawa 20 percent downturn in its 2023 net income.
DMCI Holdings, meanwhile, sawa 20 percent downturn in its 2023 net income.
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