San Miguel Corp sale transaction lapses

San Miguel Corp sale transaction lapses
11 May 2020

In May 2019 LafargeHolcim signed an agreement with San Miguel Corp for the sale of its entire 85.7 per cent shareholding in Holcim Philippines Inc, subject approvals, including those required by the Philippines Competition Authority (PCC).
The PCC did not issue an approval of the transaction within the required time period and consequently the agreement lapsed.
With today's unprecedented COVID-19 crisis, Holcim Philippines' number-one priority is to protect the health of its people while supporting its partners and communities, in full alignment with local authorities.
With construction playing an essential role to keep society running, Holcim Philippines has resumed operations in three out of its four integrated cement plants and is well-positioned for a quick and efficient recovery. Working closely with its customers, the group looks forward to supporting the country’s strong and sustainable growth coming out of the crisis.

Published under Cement News