COLOMBO: In two developments in Asia, Thailand’s Siam City Cement Public Company Limited (SCCC) has completed the buyout of Sri Lanka-based cement manufacturer Holcim Lanka from its parent firm LafargeHolcim for $400 million. Meanwhile, OCK Group, Malaysia’s investment holding firm in the telecommunications and energy industries, has completed the private placement of a 10 per cent stake, equivalent to over 105.6 million ordinary shares of the company.
Siam City Cement Public Company Limited (SCCC), the second largest cement producer in Thailand, completed the buyout of Sri Lanka-based cement manufacturer Holcim Lanka from its parent firm LafargeHolcim for $400 million. SCCC’s wholly-owned unit INSEE Cement Holdings Co made the acquisition, buying the 98.95 per cent stake in Holcim Lanka, including its subsidiaries from Switzerland-based LafargeHolcim. As a leading cement manufacturer in Sri Lanka, Holcim Lanka operates a fully integrated cement plant with an annual capacity of about 1.3 million tonnes in Puttalam. The company also operat.
