News Formal

International Cement to acquire African company for US$104.4m

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

INTERNATIONAL Cement Group on Monday said it has entered into a conditional sale and purchase agreement to acquire a 100 per cent stake in Schwenk Namibia Pty Ltd for an aggregate US104.4 million in cash, comprising US$19.3 million for all its shares and another US$85.1 million for the purchase of its loans. Read more at The Business Times.

INTERNATIONAL Cement Group on Monday said it has entered into a conditional sale and purchase agreement to acquire a 100 per cent stake in Schwenk Namibia Pty Ltd for an aggregate US104.4 million in cash, comprising US$19.3 million for all its shares and another US$85.1 million for the purchase of its loans.

Schwenk Namibia Pty Ltd owns a 69.83 per cent stake in Ohorongo Cement, and a 100 per cent stake in EFF. International Cement noted that following its"successful diversification" into the cement business in Central Asia in 2017, the group has decided to expand its cement business into Africa. As compared to building a new cement plant, having a commercially operational plant will eliminate project risk during the construction period, the company said.

Among other things, the proposed acquisition is subject to shareholders' approval at an extraordinary general meeting to be convened, and the transactions being approved by the relevant government authorities.

 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 15. in RU

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Exclusive: US to issue meat company guidelines as recalls pile up - officialCHICAGO: The U.S. government plans to issue new guidelines for food companies as early as this week after an increase in recalls of meat and ...
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »

Russian mobile telecom company to pay US$850 million for alleged briberyWASHINGTON: Russia's largest mobile telecommunications company and its Uzbek subsidiary agreed to pay US$850 million to resolve U.S. charges of a ...
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »

US extends time for divestment from sanctioned Russian company GAZThe U.S. Treasury said on Wednesday it was extending by four months the deadline for investors to divest from Russian automaker GAZ, a company ...
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »

US to issue meat company guidelines as recalls pile up: OfficialThe U.S. government plans to issue new guidelines for food companies as early as this week after an increase in recalls of meat and poultry ...
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »