{"id":329031,"date":"2024-08-18T23:48:27","date_gmt":"2024-08-18T15:48:27","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329031"},"modified":"2024-08-19T00:01:58","modified_gmt":"2024-08-18T16:01:58","slug":"trade-the-news-dmci-consunji-groups-acquisition-of-chp-approved-by-pcc","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-dmci-consunji-groups-acquisition-of-chp-approved-by-pcc\/","title":{"rendered":"Trade the News: DMCI, Consunji Group’s acquisition of CHP approved by PCC"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>DMCI Holdings<\/td><\/tr>
Stock Code<\/strong><\/td>DMC<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 11.89<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The Consunji Group has moved closer to sealing the acquisition of a majority stake in Cemex Philippines following the clearance from the Philippine Competition Commission (PCC).<\/p>\n\n\n\n

In a PSE filing, Cemex Holdings Philippines Inc. (CHP) said the sale of shares in Cemex Asian South East Corp. (CASEC) by Cemex Asia B.V. has secured the clearance of the PCC.<\/p>\n\n\n\n

The Consunji Group, through DMCI Holdings, Dacon Corp. and Semirara Mining and Power Corp., signed a share purchase agreement with CEMEX Asia B.V. in April to acquire its entire holding of 42.14 million common shares in CASEC for $305.6 million.<\/p>\n\n\n\n

CHP said the PCC clearance is one of the conditions precedent to and a regulatory requirement necessary before consummating the joint acquisition.<\/p>\n\n\n\n

\u201cClosing of the transaction is subject to the satisfaction of various other conditions, including, but not limited to, completion taking place under agreements for the sale and purchase of shares pursuant to which the seller would indirectly dispose of its 40-percent interest in each of APO Land & Quarry Corp. and Island Quarry and Aggregates Corp., and the fulfillment of any mandatory tender offer requirement by the buyers to the shareholders of CHP,\u201d it said.<\/p>\n\n\n\n

CASEC is the majority owner of CHP, a company which produces and markets cement and other building materials in the Philippines. CHP is the country\u2019s fourth largest cement manufacturer.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

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This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329031","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329031"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329031\/revisions"}],"predecessor-version":[{"id":329039,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329031\/revisions\/329039"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}