Cement News tagged under: Misr Cement Qena

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ASEC to sell ASEC Minya Cement, ASEC Ready Mix

02 November 2015, Published under Cement News

Qalaa Holdings announced yesterday that its business unit ASEC Cement has signed a sale and purchase agreement for the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co – representing 46.5 and 55 per cent, respectively – to Qena Cement for total consideration of c.EGP1bn (US$124.5m). The financial close is expected to take place on or before 20 November 2015. Qalaa Holdings and its subsidiary National Development and Trading Company (NDT) own 70 per cent of ASEC ...