InterCement completes sale of Africa businesses

InterCement Participações SA has announced that the divestment of its businesses in South Africa and Mozambique – collectively known as the ‘Africa Business’ – to Huaxin Cement Co. Ltd (China), has been concluded upon receipt of the provisional price of USD231.6m.

As provided for in the previously executed Stock Purchase Agreement, the provisional price will be adjusted in due course considering net debt, other customary adjustments and working capital levels of the Africa Business.