Cementir Holding Group, through its fully owned subsidiary Aalborg Portland A/S, signed a strategic agreement with the Australian Group Adelaide Brighton Limited, the second cement and ready-mixed concrete producer in Australia as well as a leading company in the construction materials, lime producing, engineering, infrastructure and resource sectors.
The completion of this investment is expected to occur within the end of 2014, for a total cost of USD 18.6 million (around EUR 14.3 million).
The agreement provides:
The agreement includes the sale of 30% of share capital of Aalborg Portland Malaysia for a total price of USD 29.4 million (around EUR 22.6 million). Cementir Holding Group, through its fully owned subsidiary Aalborg Portland A/S, will continue to hold 70% of share capital of its Malaysian subsidiary.
Read the press release.