Holcim announces intention to buy

Holcim announces intention to buy
Published: 29 March 2004

Holcim Investments has announced its intention of buying the remaining 6.57 per cent of the corporate capital of Holcim Apasco in order to become 100 per cent owner of its Mexican subsidiary. On March 15, Holcim Investments purchased 24.54 per cent of the stock in Holcime Apasco of a total of 31.11 per cent that it intended to buy. This raised its stake in the firm from 68.89 per cent to 93.43 per cent. Now, the Swiss group wants the remaining 6.57 per cent to give it full control of the firm. In a statement sent to the Mexico City Stock Exchange (BMV), Holcim Apasco said that its controlling company wanted to place a buying position on the market for the remaining stock at the same price as the previous offer, at US$10.20 per share. "The intention of the offering party Holcim Investments, it to gain a 31.11 per cent share in the corporate capital of Apasco" said the cement manufacturer, although it did not mention the date on which the offer would be made.