Philippines: Cemex Philippines has started proceedings to sell a minority stake in its assets. The subsidiary of Cemex has filed a registration statement with the Securities and Exchange Commission (SEC) of the Philippines and the Philippine Stock Exchange. Subject to obtaining approvals from both bodies it will then sell a minority interest in the company’s cement manufacturing assets in the Philippines, the company said in a statement.
Cemex runs two integrated cement plants in the country, the Solid Cement Plant in Rizal and the APO Cement Plant in Cebu. The decision to sell shares of assets in the Philippines is part of Cemex’s wider asset divesture plant.