Philippines-based D M Consunji Inc (DCMI), an engineering-based construction firm, is looking to expand into the cement business with the potential acquisition of CEMEX Holdings Philippines (CHP). According to The Philippine Star, the acquisition is seen as benefitting DCMI as cement is a key input in some of its major businesses. It could also help mange the costs of its property arm.
Although there has been no confirmation of when a deal could be completed, both DCMI and CHP are reported to be looking at the numbers in the hope a deal can be struck. Reuters has previously reported that such a deal could be worth around PHP40bn (US$715m) based on CEMEX Philippines’ book value of PHP3/share.
