Huaxin Cement to acquire 59.58% stake in Oman Cement Company for $193.1M

Huaxin Cement, through its subsidiary Huaxin (Hong Kong) International Holdings, agreed to acquire a 59.58% stake in Oman Cement Company for approximately $193.1 million. The target is a cement producer in Oman with 2.61 Mtpa clinker and 3.6 Mtpa cement capacity.

“IA has entered into a sale purchase agreement (SPA) with Huaxin (Hong Kong) International Holdings Limited... for the sale of IAs entire shareholding in the Company to Huaxin, comprising 59.58% of the issued capital of the Company.”gulfoilandgas.com

• 4 sources
• gulfoilandgas.comOIA to Sell its Majority Stake in Oman Cement to Huaxin - Mergers and AcquisitionsMar 13, 2023
• beta.zhitongcaijing.com华新水泥(06655)拟1.931亿美元收购阿曼水泥生产制造商Oman Cement Company 59.58%股权Mar 13, 2023
• muscatdaily.comOIA to sell its majority stake in Oman Cement to HuaxinHubertMar 13, 2023
• beta.zhitongcaijing.com华新水泥(06655)通过间接全资子公司Abra持有Oman Cement Company SAOG 59.58%股权Apr 5, 2023

Summarized from public sources; check the original articles before acting on it.