{"id":45126,"date":"2023-07-06T10:45:02","date_gmt":"2023-07-06T10:45:02","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/huaxin-cement-buys-remaining-african-business-from-intercement"},"modified":"2023-07-06T11:03:12","modified_gmt":"2023-07-06T11:03:12","slug":"huaxin-cement-buys-remaining-african-business-from-intercement","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/huaxin-cement-buys-remaining-african-business-from-intercement","title":{"rendered":"Huaxin Cement buys remaining African business from InterCement"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>China-based Huaxin Cement has agreed to buy the Africa-based business of InterCement for US$265m.<\/p>\n

The deal includes the Brazil-based company\u2019s assets in Mozambique and South Africa.<\/p>\n

It follows InterCement\u2019s sale of its business in Egypt earlier in 2023 to an unnamed buyer. The company will use the latest proposed sale to reduce its debts.<\/p>\n

The transaction will be subject to approval from regulators in China, Mozambique and South Africa. InterCement appointed JP Morgan as its financial advisor to the sale of its operations in Egypt, Mozambique and South Africa.<\/p>\n

InterCement operates two integrated cement plants and three grinding plants in Mozambique under its Cimentos de Moc\u0327ambique subsidiary.<\/p>\n

It also operates one integrated cement plant and two grinding plants in South Africa under its Natal Portland Cement subsidiary.<\/p>\n

Huaxin Cement\u2019s operations in Africa include subsidiaries in Malawi, Tanzania and Zambia.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. China-based Huaxin Cement has agreed to buy the Africa-based business of InterCement for US$265m. The deal includes the Brazil-based company\u2019s assets in Mozambique and South Africa. It follows InterCement\u2019s sale of its business in Egypt earlier in 2023 to an unnamed buyer. The company will use the latest proposed sale to reduce […]<\/p>\n","protected":false},"author":84,"featured_media":45125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,371,234],"class_list":["post-45126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nHuaxin Cement buys remaining African business from InterCement - Malawi<\/title>\n<meta name=\"description\" content=\"China-based Huaxin Cement has agreed to buy the Africa-based business of InterCement for US$265m. 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