# Unifive and Aswaq acquire stake in Jericho Cement Industry Company

Etihad Al Khamsa (Unifive) and Aswaq (a PIF subsidiary) have acquired shares in Jericho Cement Industry Company from Sanad, forming a joint venture to build the first advanced cement grinding mill in Palestine, with a supply agreement with FLSmidth.

- Type: Acquisition
- Announced: 2021-03-27
- Where: Jericho, Palestinian Territories
- Status: announced
- Products: cement grinding mill
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [FLSmidth](https://endata.com/companies/4673.md) (supplier)
- [Sanad Construction Resources Company](https://endata.com/companies/22151.md) (target)
- [Aswaq for Investment Portfolios Ltd](https://endata.com/companies/53882.md) (acquirer)
- [Etihad Al Khamsa For Investment and Development (Unifive)](https://endata.com/companies/54070.md) (acquirer)
- [Jericho Cement Industry Company](https://endata.com/companies/54071.md) (target)

## Sources

- [mashallaw.com](https://mashallaw.com/?p=3707), 2021-03-27: "The acquisition transaction creates a joint venture company, and includes a shareholders agreement and a share purchase agreement through which Sanad transferred 50 percent of its shares to Unifive, and ten percent of its shares to Aswaq."

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