WESTCHINACEMENT to acquire Southern Africa business for up to USD 145 million
WESTCHINACEMENT (02233.HK) announced that it will acquire a total of 100% equity in Afri Sam from ten independent third parties to expand the group's cement development and footprint in Southern Africa, with a maximum cash consideration of 2.5 billion rand (approximately 145 million USD or 1.126 billion HKD), which will be paid using internal funds and bank loans.
Afri Sam has an annual cement production capacity of 4.5 million tons, an annual aggregate production capacity of 5 million tons, and an annual ready-mixed concrete production capacity of 1.5 million cubic meters
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