By Leslie D. Venzon
MANILA, Sept. 15 (PNA) — Listed holding firm Aboitiz Equity Ventures Inc. (AEV) and Irish building materials group CRH plc on Tuesday closed a deal to acquire Philippine assets of international cement giant Lafarge S.A.
Local arm Lafarge Republic Inc. (LRI) told the local bourse it sealed the sale of its shares of Calumboyan Holdings, Inc., Lafarge Holdings, (Philippines), Inc., Round Royal, Inc. and South Western Cement Ventures, Inc. to AEV CRH Holdings, Inc.
LRI said these shares represent 88.85 percent of its outstanding shares.
“Post-acquisition integration activities are expected to commence promptly in the newly acquired businesses,” said AEV in a separate disclosure to the Philippine Stock Exchange. (PNA)