Holcim deal finally cemented

July 25, 2008
The Public Investment Corp (PIC) has come to the rescue of one of SA's largest black economic empowerment (BEE) deals. The R13bn takeover of cement producer Holcim SA by the AfriSam consortium has certainly been one of SA's most financially difficult transactions, two years in the making.
The final funding terms were only announced last week - just as the R6bn in bridging finance arranged by its former shareholders, construction group Aveng and the Swiss-based Holcim, come to an end.

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