After the offer document submitted on 13 March 2025 for TC Mena Holdings Ltd, a subsidiary of Buzzi SpA, to acquire a 37.6 per cent share of the capital in Gulf Cement Co PSC of UAE, the Securities and Commodities Authority has approved an increase the offer price from AED0.56 to 0.75 per share, to present a more attractive proposal to Gulf Cement Co PJSC (GCC) shareholders and achieve a higher participation in the offer.
The offer closing date will be postponed to 24 April 2025 and the results will be announced on 25 April 2025. The offer is expected to be declared unconditional in all respects on or around 5 May 2025 and the settlement date on 8 May 2025.
