Consunji Group and CEMEX Asia B.V. Signed an Agreement to Acquire Cemex Asian South East Corporation

DMCI Holdings, Inc. (DMC), Dacon Corporation, and Semirara Mining and Power Corporation (SCC) have inked a share purchase agreement with CEMEX Asia B.V. to buy the whole 42,140,266 common shares of Cemex Asian South East Corporation (CASEC).​

DMC will purchase a 56.75% stake in CASEC, consisting of 23,915,631 shares, while Dacon will receive 32.12%, or 13,535,296 shares. SMPC will buy the remaining 11.13 percent, or 4,689,339 shares.

CASEC owns the majority of Cemex Holdings Philippines, Inc. (CHP), the country's fourth-largest cement maker, with an 89.86% equity stake.

“Cement manufacturing will be a good, strategic addition to our business portfolio. We can leverage our group's expertise and create new revenue streams from this acquisition,” said DMCI Holdings, Dacon and SMPC chairman Isidro A. Consunji.

The Consunji Group has signed a share purchase agreement with CEMEX Asia B.V. sets a purchase price of US$305.6 million for the acquisition. The price is subject to normal closing adjustments based on CHP's expected working capital, cash, and debt levels at the closing date.

The transaction is likely to be finalized before the end of the year, pending necessary conditions.

These include, but are not limited to, obtaining clearance from the Philippine Competition Commission and conducting a mandatory tender offer (MTO) to CHP's minority owners.

Dacon has been appointed as the MTO's bidder to acquire the remaining 10.14% of CHP's total issued and outstanding capital stock.​

DMCI Holdings is the only publicly listed holding company in the Philippines that has construction as its core competency. Its diverse portfolio includes leading enterprises in construction, real estate, integrated energy, off-grid power, nickel mining and water services.

The privately held company of the Consunji family, Dacon Corporation is majority owner of diversified engineering conglomerate DMCI Holdings, Inc.

Semirara Mining and Power Corporation is the only vertically-integrated power generator in the country that runs on its own fuel. The largest domestic coal producer, it supplies affordable fuel to power plants, cement factories and other industrial facilities across the Philippines.

​CASEC holds approximately 89.86% of the outstanding shares of Cemex Holdings Philippines, Inc. (CHP), a leading vertically integrated heavy building materials company focused on four core businesses—Cement, Ready-Mix Concrete, Aggregates, and Urbanization Solutions.