Cemex increases Rinker holding to 55%

Cemex increases Rinker holding to 55%
Published: 13 June 2007

Cemex has increased its holding in local material firm  Rinker Group Ltd to 54.89 per cent.  
 
The world’s third biggest cement maker secured more than 50 per cent of Rinker shares last week at which time it declared its US$14.25bn takeover bid unconditional.  
 
Cemex has proposed that a formal handover of the company occur in the week starting June 18, which will have all Rinker director’s retire from the board in favour of Cemex nominees.