Dacon Corporation, DMCI Holdings, Inc. and Semirara Mining and Power Corporation signed signed a share purchase agreement to acquire Cemex Asian South East Corporation from CEMEX Espana, S.A.

Dacon Corporation, DMCI Holdings, Inc. (PSE:DMC) and Semirara Mining and Power Corporation (PSE:SCC) signed signed a share purchase agreement to acquire Cemex Asian South East Corporation from CEMEX Espana, S.A. on April 25, 2024. The consideration consists of $305.6 million in cash. As part of the consideration, $305.6 million was paid towards common equity.

The deal is subject to securing clearance from the Philippine Competition Commission, and completing a mandatory tender offer (MTO) to the minority shareholders of CHP. The transaction is expected to close before the end of the year, contingent on key conditions. Lazard Freres & Co.

LLC and UBS AG, Singapore Branch acted as financial advisor to Cemex.