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Diversified engineering conglomerate DMCI Holdings Inc. of the Consunji family has set its sights on its next acquisition targets following a recent deal to purchase a majority stake in Cemex Philippines.
DMCI Holdings Inc. is optimistic that Cemex Holdings Philippines (CHP) — the conglomerate's first acquisition in 10 years and its largest investment to date — will swing back to profit as early as this year.
Engineering conglomerate DMCI Holdings Inc. said the turnaround of Cemex Holdings Philippines Inc. may happen next year due to its ongoing expansion and the synergies provided by the businesses controlled by the Consunji Group. “While cement demand is currently soft, we expect it to rebound as our turnaround plan progresses,…
DMCI Holdings, and two other companies controlled by billionaire Isidro Consunji are buying Cemex's Philippine cement business for $305.6 million.
THE Consunji Group has signed a purchase agreement with Cemex Asia B.V. to acquire its entire stake of 42.14 million common shares in Cemex Asian South East Corp. (CASEC) for $305.6 million. CASEC is the majority shareholder of Cemex Holdings Philippines Inc. (CHP), which owns 89.86 percent of its outstanding…