China-based cement maker Conch International Holdings (HK) Ltd (Conch) plans to increase its shareholdings in fellow Chinese cement maker West China Cement Ltd (West Cement) through a US$592.21 million (HKD 4.59 billion) investment.
Once the deal is completed, Conch will need to conduct a mandatory takeover offer for the shares in West Cement it does not already own, as the stake it owns will rise to 51.57%. Currently, it owns a 21.17% equity holding in West Cement.
China-based cement maker Conch International Holdings (HK) Ltd (Conch) plans to increase its shareholdings in fellow Chinese cement maker
Once the deal is completed, Conch will need to conduct a mandatory takeover offer for the shares in West Cement it does not already own, as the stake it owns will rise to 51.57%. Currently, it owns a 21.17% equity holding in West Cement.
