West China Cement's Subsidiary to Acquire 91% Stake in Integrated Cement Plant in Congo
MT Newswires Live01-28
West China Cement's (HKG:2233) subsidiary WIH Cement Developing agreed to acquire 1,574,904 shares of Cimenterie de Lukala for $3.7 million from four Sweden-incorporated subsidiaries of Heidelberg Materials.
The purchaser further agreed to take on Target's outstanding liabilities from Heidelberg Materials and Scancem International for $116.0 million, a Monday Hong Kong bourse filing said.
The total acquisition cost will become $119.7 million and the purchaser will source it through its internal resources or bank borrowings.
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