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LafargeHolcim no longer seeking to sell Holcim Philippines

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Philippines: John Stull, the chief executive officer (CEO) of Holcim Philippines, says that the subsidiary of LafargeHolcim is no longer being considered for divestment. He made the comments at the company’s annual shareholders meeting, according to the Philippine Daily Inquirer newspaper.

“Holcim Philippines will remain with the major shareholder of LafargeHolcim and we will grow with the company and with the country," he said. Still added that the cement producer was making long-term plans to boost the production capacity of its plants in Luzon and Mindanao. LafargeHolcim’s attempt to sell its majority stake in Holcim Philippines to San Miguel Corporation for US$2.15bn collapsed in May 2020 after the Philippines Competition Authority (PCC) failed to approve the deal within 12 months of its conclusion.

Last modified on 24 July 2020

URL: https://globalcement.com/news/item/11111-lafargeholcim-no-longer-seeking-to-sell-holcim-philippines

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