Holcim PH okays plan to buy Lafarge Republic's assets

MANILA, Philippines — After one year of due diligence, the board of directors of Holcim Philippines, Incorporated finally approved the company’s plan to make an offer and acquire certain assets of Lafarge Republic, Incorporated.

Holcim said in a disclosure to the Philippine Stock Exchange that its board has finally authorized the company to make an offer to  acquire some assets owned by its rival Lafarge Republic.

These assets include shares of stock of Lafarge Iligan, Incorporated, Lafarge Mindanao, Incorporated, Lafarge Republic Aggregates, Incorporated, Quimson Limestones, Incorporated, Sigma Cee Mining Corporation, and APC Properties, Incorporated.

Holcim said it also plans to purchase Star Terminal assets located at the Harbour Centre, Manila, and certain parcels of land as identified by the parties.