Trinidad and Tobago: Cemex plans to takeover Trinidad Cement by increasing its share in the cement producer through its subsidiary Sierra Trading. It will present an offer and take-over bid to Trinidad Cement’s shareholders, which if successful, will increase its share of the company to 74.9% from the 39.5% that it holds at present. The value of the offer has been placed at US$89m. The offer is reliant on Sierra acquiring at least enough of Trinidad Cement’s shares to give it control. The offer period is expected to close on 10 January 2017.
If the offer is successful, Trinidad Cement will continue operating as previously. Trinidad Cement’s main operations are in Trinidad and Tobago, Jamaica and Barbados. It is the majority shareholder of Caribbean Cement Company.
