# San Miguel Corporation abandons plan to acquire majority stake in Holcim Philippines

San Miguel Corporation's plan to acquire an 85.7% stake in Holcim Philippines from LafargeHolcim has lapsed after failing to obtain regulatory clearance from the Philippines Competition Authority within the required one-year window.

- Type: Acquisition
- Announced: 2020-05-11
- Where: Philippines, Philippines
- Value: $2.00B
- Status: cancelled
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [LafargeHolcim Group](https://endata.com/companies/19905.md)
- [San Miguel Corp](https://endata.com/companies/5541.md) (acquirer)
- [LafargeHolcim Group](https://endata.com/companies/19905.md) (partner)
- [Holcim Philippines](https://endata.com/companies/25852.md) (target)

## Sources

- [aggbusiness.com](https://www.aggbusiness.com/smc-cancels-agreement-buy-majority-stake-holcim-philippines/), 2020-05-11: "San Miguel Corporation (SMC) has abandoned its plan to acquire a majority stake in cement maker Holcim Philippines after failing to gain regulatory clearance."
- [forconstructionpros.com](https://www.forconstructionpros.com/concrete/press-release/21132771/lafargeholcim-north-america-inc-lafargeholcim-announces-lapse-of-philippines-transaction), 2020-05-11: "The PCC did not issue an approval of the transaction within the required time period and consequently the agreement lapsed."
- [manilastandard.net](https://manilastandard.net/business/corporate/323494/smc-drops-plan-to-acquire-holcim-ph-for-over-2b.html), 2020-05-11: "San Miguel said in a disclosure to the stock exchange subsidiary First Stronghold Cement Industries Inc. would no longer proceed with the planned acquisition of 5.531 billion common shares, equivalent to 85.73-percent stake in Holcim Philippines, for more than $2 billion after the agreement signed i"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.