Consunji holding company DMCI Holdings said on Monday it has “no intention to delist” Cemex Philippines, the country’s fourth biggest cement maker. This was a clarification made to a report by The Philippine Star newspaper.
Over the past two years, CHP’s major competitors Eagle Cement and Holcim Philippines were privatized by their owners.
DMCI, Semirara Mining and Power Corp. and privately-held Dacon Corp. will acquire CHP’s parent firm CEMEX Asian South East Corp., which owns 89.86 percent of the cement maker, for P17.6 billion or about P1.42 per share.
Tender offer details to CHP’s minority stockholders owning just over 10 percent of the firm have yet to be announced.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
