THE Consunji Group, through engineering conglomerate DMCI Holdings Inc. and subsidiaries Semirara Mining and Power Corp. and Dacon Corp., said on Tuesday that it had completed the acquisition of Cemex Asian South East Corp. (Casec) from Cemex Asia B.V. for $272 million (about P15.9 billion).
THE Consunji Group, through engineering conglomerate DMCI Holdings Inc. and subsidiaries Semirara Mining and Power Corp. and Dacon Corp., said on Tuesday that it had completed the acquisition of Cemex Asian South East Corp. from Cemex Asia B.V. for $272 million .The acquisition gave the group nearly 90-percent of Cemex Holdings Philippines Inc. , paving the way for an expansion into cement manufacturing.
'This acquisition aligns with our core expertise in engineering and construction and dedication to contributing to the infrastructure development of the Philippines,' he added.CHP said that Cemex also indirectly disposed of its 40-percent interest in both APO Land & Quarry Corp. and Island Quarry and Aggregates Corp., which was part of the conditions set prior to closing.
Group Adds Cemex PH To Portfolio
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