Holcim Agrees to Divest of Philippines Arm for $807 Million
By Aimee Look
Holcim agreed to divest its business in the Philippines to Huaxin Building Materials, for an estimated value of $807 million, as it homes in on growth elsewhere.
The Swiss building-materials company said it agreed to divest its business in the Philippines to Huaxin, with an initial sale of a 67.62% stake for $527 million. It said a further exit of Holcim's remaining around 31% stake would come within a three to five year time frame, for at least $280 million.
The divestment of the majority stake is expected to close in the first half of 2027, it said.
Holcim's move to offload its Philippines business comes after it shed its Kenya and Nigeria businesses and said it completed the spinoff of its North America business in June 2025.
The company also has closed a string of acquisitions in Europe and Latin America this year---with French manufacturer Alkern, Germany's Xella and Peruvian building-materials producer Cementos Pacasmayo.
Write to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
August 03, 2026 01:43 ET (05:43 GMT)
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