Holcim divests businesses in Uganda and Tanzania
Holcim is selling its subsidiary Hima Cement in Uganda to the Sarrai Group for 120 million dollars. In addition, the Swiss building materials manufacturer's 65 per cent stake in Mbeya Cement in Tanzania is being transferred to the Amsons Group for an undisclosed amount.
Holcim has signed agreements to divest its businesses in Uganda and Tanzania. According to a press release issued by the Zug-based building materials manufacturer, its local subsidiary in Uganda, Hima Cement Ltd, has been sold to the Sarrai Group for an enterprise value of USD 120 million.
Holcim has also agreed to sell its 65 per cent stake in Mbeya Cement Company Ltd in Tanzania to the Amsons Group for an undisclosed amount. The completion of both transactions is subject to the respective regulatory approvals.
“These divestments advance our strategy to consolidate our leadership position in core markets as the world’s leading provider of innovative and sustainable building solutions,” said Martin Kriegner, Regional Head Asia, Middle East & Africa. “We are delighted to have found strategic and trusted partners in the Sarrai Group and the Amsons Group, who are ideally positioned to develop these businesses in the long term.”