Parties amend Casec acquisition agreement

CONSUNJI-LED DMCI Holdings, Inc. said on Monday that it had executed an amendment agreement with Cemex Asia B.V. regarding the sale and purchase of shares in Cemex Asian South East Corp. .The agreement, executed last Sunday together with Semirara Mining and Power Corp. and Dacon Corp., is expected to hasten the Consunji Group's acquisition of Casec.The Consunji Group and Cemex agreed to conduct certain standard confirmatory testing related to the Solid Cement Corp.

5 million tons of production capacity at Solid Cement Corporation, raising Cemex Holdings Philippines, Inc.'s total capacity from 5.7 to 7.2 million tons,' DMCI told The Manila Times in a message.'To facilitate the transaction, the buyer, the Consunji group, agreed to conduct certain standard confirmatory testing after the targeted financial closing date, through an amendment to the SPA. The expansion plant is now expected to be completed by the first quarter of 2025.

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