Holcim has signed agreements to divest its businesses in Uganda and Tanzania. It has agreed to sell Hima Cement Ltd, its local subsidiary in Uganda, to the Sarrai Group, for an enterprise value of US$120m.
Holcim has also agreed to sell its 65 per cent share in Mbeya Cement Co Ltd in Tanzania to Amsons Group for an undisclosed sum. Completion of both transactions is subject to obtaining the respective regulatory clearances.
Martin Kriegner, regional head Asia, Middle East and Africa, Holcim, said, “These divestments advance our strategy to consolidate our leadership in core markets as the global leader in innovative and sustainable building solutions. With the Sarrai Group and Amsons Group, we are pleased to have found strategic and trusted partners who are best positioned to develop these businesses in the long term.”
