Holcim sells minority stake in Siam City Cement Company

Holcim has sold its entire remaining shareholding of 27.5% in Siam City Cement (Public) Company (SCCC) in Thailand via a private placement in capital markets. For the sale of its entire remaining stake, Holcim will receive a total consideration of approximately CHF 655 million (approximately €626 million), which will result in a gain before taxes of approximately CHF 365 million (€349 million). Of the 27.5%, 24.9% was acquired by a member of the Jardine Matheson Group, a Hong-Kong-based conglomerate, while
March 30, 2015 Read time: 1 min

RSS680 Holcim has sold its entire remaining shareholding of 27.5% in Siam City Cement (Public) Company (SCCC) in Thailand via a private placement in capital markets.

For the sale of its entire remaining stake, Holcim will receive a total consideration of approximately CHF 655 million (approximately €626 million), which will result in a gain before taxes of approximately CHF 365 million (€349 million).

Of the 27.5%, 24.9% was acquired by a member of the Jardine Matheson Group, a Hong-Kong-based conglomerate, while the remaining 2.6% was purchased by a number of high quality institutional investors.

The proceeds of the sale will be used for general corporate purposes. The transaction will close as per standard SET (Stock Exchange of Thailand) settlement rules.  

SCCC is a leading construction materials group which has a cement production capacity of 14.5 million tonnes at its Saraburi plant. With more than 4,000 employees, the company recorded net sales of THB 31.86 billion.

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