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News International Cement Group extends date to buy Schwenk Namibia

International Cement Group extends date to buy Schwenk Namibia

Written by Global Cement staff 01 August 2019
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Singapore/Namibia: International Cement Group (ICG) has extended the stop date of its agreement to buy Schwenk Namibia by six months to 31 January 2020. It follows the decision by the Singapore Exchange to block the proposed acquisition in June 2019 on the grounds that it did not meet the requirements for a ‘very substantial acquisition.’ ICG announced in March 2019 that it had arranged to buy a 100% stake in Schwenk Namibia for US$104m. Schwenk Namibia owns a 69.8% share of Ohorongo Cement.

Last modified on 07 August 2019
Published in Global Cement News
Tagged under
  • Singapore
  • Namibia
  • International Cement Group
  • Acquisition
  • Schwenk Namibia
  • Ohorongo Cement
  • Plant
  • Schwenk Zement
  • GCW417
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