Cemco offers to buy out Union Cement

Cemco offers to buy out Union Cement
Published: 05 August 2008

Cemco Holdings Inc., a unit of cement giant Holderfin BV Holdings Inc. of the The Netherlands, is acquiring up to 1.447 billion common shares worth P8.42 billion of listed Holcim Philippines Inc. in a tender offer in compliance with a Supreme Court ruling.
Holcim Philippines said in a disclosure to the stock exchange that the 1.447 billion common shares represented 22.44 per cent of the outstanding common shares of the company.
Cemco Holdings is acquiring the shares at P5.70 per share.
Holcim Philippines said Cemco Holdings would file tender offer documents with the Securities and Exchange Commission.