MANILA, Aug. 4 (PNA) — Holcim Philippines Inc. will acquire Philippine assets of Lafarge for Php3.09 billion in line with the global merger of their parent firms.
In a disclosure to the Philippine Stock Exchange, Holcim said its wholly-owned subsidiary, Holcim Mining and Development Corp., executed an agreement Tuesday with Lafarge Republic, Inc., Lafarge Holdings (Philippines), Inc., Calumboyan Holdings, Inc., Luzon Continental Land Corporation and Broadfields Properties, Ltd. for the purchase of their assets.
The assets comprise shares of stock of Lafarge Republic Aggregates, Inc., Quimson Limestones, Inc., Sigma Cee Mining Corporation and APC Properties, Inc.; Star Terminal assets located at the Harbour Centre, Manila; and certain parcels of land.
“The closing of the transaction shall be subject to the completion of all customary closing conditions as stated in the agreement,” Holcim said.
Holcim Mining and Development Corp. is engaged in operating mines and mineral claims.
Lafarge Republic, Inc., on the other hand, is engaged in the manufacture, development, exploitation and sale of cement and other kinds of building materials. (PNA)