Cemex revises offer for Trinidad Cement

January 10, 2017

Cemex has made a new offer take-over bid for Trinidad Cement following its take-over bid December 5, 2016.

Cemex’s new offer price is $5.07  a share. If successful, Trinidad Cement will continue operating as usual and remain a publicly listed company on the Trinidad and Tobago Stock Exchange.

Cemex is the largest shareholder in the company, holding 39.5% of the company.

Trinidad Cement’s main operations are in Trinidad and Tobago, Jamaica and Barbados. It is the majority shareholder of Caribbean Cement Company, a main cement producer in Jamaica.

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January 10, 2017

Cemex makes revised takeover bid for Trinidad Cement

Cemex’s indirect subsidiary Sierra Trading (Sierra) is to make a revised shares offer worth over US$100 million in a bid to complete a takeover of Trinidad Cement (TC).

Full TC shareholders’ acceptance of the new offer of TT$5.07 in cash per TC share would result in a cash payment by Sierra of around TT$672 million (US$101 million). The Revised Offer Price represents a premium of 50% over the 1 December 2016 closing price of TC’s shares on the Trinidad and Tobago Stock Exchange. Except for shareholders o

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