Company agrees to sell Hima Cement to Sarrai Group and Mbeya Cement to Amsons Group
HOLCIM have signed agreements to divest their businesses in Uganda and Tanzania as part of their strategy to consolidate leadership in core markets.
Holcim have agreed to sell Hima Cement Ltd, their local subsidiary in Uganda, to the Sarrai Group, for an enterprise value of US$ 120 million. The company hasalso agreed to sell its 65% participation in Mbeya Cement Company Ltd in Tanzania to Amsons Group for an undisclosed sum. Completion of both transactions is subject to obtaining the respective regulatory clearances.
Martin Kriegner, Holcim's regional head of Asia, Middle East, and Africa, 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.’