Cemco tender offer

Cemco tender offer
Published: 28 February 2005

The Philippine Securities and Exchange Commission will stand by its decision ordering Cemco Holdings Inc. to conduct a tender offer for minority shareholders of Holcim Philippines Inc., SEC chairman Fe B. Barin said. In a press conference last Thursday, Ms. Barin said that the SEC was implementing both the letter and the spirit of the law when it came out with its decision on the mandatory tender offer. The SEC order, which was issued on Feb. 14, required Cemco to make a tender offer to minority shareholders of Holcim Philippines since it now controls the publicly listed company through its acquisition of shares of stock in Union Cement Holdings Corp.