Tuesday 16 July
Feb 1, 2019 @ 23:38

RSA to bid for LafargeHolcim’s stake in PH plant: Expect a good fight!

 

Bilyonaryo Ramon S. Ang has confirmed his strong interest in bidding or LafargeHolcim’s Philippine cement plants in La Union, Bulacan, Misamis Oriental and Davao.

In breaking news tweeted by D.A. Market Securities, Ang, which owns the Bulacan-based Eagle Cement, said: “You can expect a good fight. You know we are always very confident in bidding.” Bloomberg reported that Europe’s biggest cement maker is seeking $2.5 billion for its stake in Holcim Philippines. “While Eagle is doing very well on its own, an acquisition will help increase sales,” said Ang.

Ang’s son, Paul, who is president of Eagle Cement said there were “nearly a dozen other interested parties” keen on Holcim. “We will submit a strong bid, LafargeHolcim is a very good asset,” Paul said. Paul said Eagle’s new cement plant would be completed by 2021. Its additional output was targeted for export to ASEAN market.

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