Pakistan: Bestway Cement joins bidding for Dewan Cement assets

Bestway Cement Ltd has informed Pakistan Stock Exchange (PSX) on 30 Dec that it is considering acquiring the northern plant and related assets of Dewan Cement Ltd in Pakistan.

Previously, three local cement companies and a Chinese company have expressed their intention to acquire stakes in Dewan Cement. “The final outcome will be dependent upon due diligence and any eventual bidding, if made, for purchase of Dewan’s assets,” said Sehar Hussain, Bestway cement's company secretary.

The interest of local manufacturers in Dewan Cement shows that domestic players want to keep the local market in their hands rather than a Chinese investor control the company.