Holcim cements position in Australia and China

The global cement company spends $1.61 billion to buy Cemex Australia and another $234 million on shares of Huaxin China, financing the deals through a $1.8 billion rights issue.

Swiss cement company Holcim announced yesterday it will buy Cemex Australia for A$2.02 billion $1.61 million and invest Rmb1.6 billion $234 million in its Chinese affiliate Huaxin Cement, financing the combined outlay with a SFr2 billion $1.8 billion rights issue.

Cemex Australia is a unit of Mexico cement producer Cemex, which has operations in more than 50 countries around the world. It has a presence across Australia in aggregates, ready-mix concrete and concrete products with a total of 348...

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