Cement News tagged under: Misr Cement Qena
ASEC Cement closes sale to Misr Cement Qena24 November 2015, Published under Cement NewsASEC Cement, a business unit of Qalaa Holdings, on Sunday announced it reached financial close on the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co to Misr Cement Qena for total consideration of around EGP1bn (US$127m). “We are pleased to announce the sale process closed today, putting in place another cornerstone in our strategy to deleverage at both the holding and platform company levels,” said Qalaa Holdings chairman and founder, Ahmed Heikal. “Both ASE... |
ASEC to sell ASEC Minya Cement, ASEC Ready Mix02 November 2015, Published under Cement NewsQalaa 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 ... |