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The Consunji group has struck a $305 million deal to buy Cemex Philippines.

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Consunji group acquiring Cemex PH for $305 million

Benise Balaoing

ABS-CBN News

<p>MANILA -- The Consunji group has struck a $305 million deal to buy cement maker Cemex Philippines. </p><p>The two firms disclosed to the stock exchange the deal, which would see DMCI Holdings Inc., Semirara Mining, and Dacon Corporation taking over the Philippine unit of the Mexican cement giant. </p><p>The transaction involves 42,140,266 common shares of Cemex owner Cemex Asian South East Corporation (CASEC).</p><p>The transaction may be finalized before the end of the year, subject to the approval of regulators, including the Philippine Competition Commission.</p><p>Cemex Holdings Philippines said its operations will continue pending the deal&#x27;s closing.</p><p style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Cemex Holdings Philippines reported <a href="https://news.abs-cbn.com/business/07/28/23/cemex-reports-p662m-net-loss-in-first-half-of-2023" rel="noopener noreferrer" target="_blank">a net loss of P662 million</a> in the first half of 2023.</p><p>DMCI Holdings, meanwhile, sawa 20 percent downturn in its  <a href="https://news.abs-cbn.com/business/2024/3/7/dmci-net-income-down-20-pct-in-2023-901"></a><span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none"><a href="https://news.abs-cbn.com/business/2024/3/7/dmci-net-income-down-20-pct-in-2023-901">2023 net income.</a></span></p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/iiVz7klIOBI?autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>The Consunji group has struck a $305 million deal to buy Cemex Philippines.</p>