Holcim announces SA empowerment deal

August 24, 2006

Swiss-based cement giant Holcim agreed to sell 85% of its 54% stake in Holcim South Africa (HSA) to a black economic empowerment (BEE) consortium for some R6,82-billion, based on an enterprise value of R15,5-billion, the company announced on Thursday...

The newly-formed AfriSam Consortium would then hold 85% in AfriSam, which, in turn, hold a 54% stake in Alture, the 100% owner of HSA.

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