Holcim to sell majority stake in Philippines unit to China's Huaxin for $527 million
Holcim to sell majority stake in Philippines unit to China's Huaxin for $527 million
Sun, August 2, 2026 at 7:23 AM UTC
0
Aug 2 (Reuters) - Swiss building materials supplier Holcim Group said on Sunday it would sell a nearly 68% stake in its Philippines business to China's Huaxin Building Materials for $527 million.
• Holcim said it expected to complete the sale in the first half of 2027.
• It said the deal was structured so it could also exit its remaining stake within 3 to 5 years, at a minimum price of $280 million.
Advertisement
• Holcim said it could benefit from "additional cash upside" during this period.
• In July, Holcim said housing construction was recovering and upgraded its outlook for 2026 organic sales growth to 5% from a previous range of 3% to 5%.
(Reporting by Sumedha Mukherjee in Bengaluru; Editing by Kate Mayberry)
Source: “AOL Money”
