Cementos Portland Valderrivas board approves sale of Giant Cement Holding to Elementia

Print this page

US: The board of Cementos Portland Valderrivas (CPV) has approved the sale of a 55% stake in its US subsidiary Giant Cement Holding to Elementia. The deal includes a US$220m capital increase in Giant Cement with subscription rights granted to Elementia, according to SeeNews. Elementia will also extend a loan of around US$305m to Giant Cement. In addition CPV will transfer up to US$66m in loans to Giant Cement to keep its remaining stake in the American cement producer at 45%.

Last modified on 02 November 2016

URL: https://globalcement.com/news/item/5438-cementos-portland-valderrivas-board-approves-sale-of-giant-cement-holding-to-elementia

© 2021 Pro Global Media Ltd. All rights reserved.