Holcim to sell Siam City Cement stake, Thailand

Siam City Cement PCL (SCCC), Thailand's second-largest cement maker, said on Monday Holcim has decided to sell its 27.5 per cent stake in the company.

SCCC said in a statement that Thai Roc-Cem Ltd, Holcim's indirect wholly-owned subsidiary, will sell 63.29 million shares of SCCC, but Holcim gave no details about the divestment or when the sale would be finalised.

At the end of 2012, Holcim reduced its stake in SCCC from 36.8 to 27.5 per cent. The shares were purchased by Bangkok Broadcasting and Television Co, part of the Ratanarak Group which thereby increased its shareholding in SCCC to 47 per cent.