# Huaxin Cement acquires Cimentos de Moçambique

Chinese group Huaxin Cement, through its subsidiary Huaxin Hong Kong, acquired 100% of the shares held by InterCement in Nepal Portland Cement Company, which controls Cimentos de Moçambique, Mozambique's largest cement company.

- Type: Acquisition
- Announced: 2023-08-07
- Where: Mozambique
- Value: $265.0M
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Huaxin Cement](https://endata.com/companies/16152.md) (acquirer)
- [Intercement](https://endata.com/companies/26146.md) (target)
- [Cimentos de Moçambique](https://endata.com/companies/71870.md) (target)
- [InterCement Trading](https://endata.com/companies/71871.md) (partner)
- [Nepal Portland Cement Company](https://endata.com/companies/71872.md) (target)

## Sources

- [aimnews.org](https://aimnews.org/2023/08/07/chinese-company-takes-over-cimentos-de-mocambique/), 2023-08-07: "The Chinese group Huaxin Cement has taken control of Mozambique’s largest cement company, Cimentos de Moçambique (CM)."
- [360mozambique.com](https://360mozambique.com/business/competition-authority-approves-acquisition-of-cimentos-de-mocambique-by-chinese-group/), 2023-09-13: "The Competition Regulatory Authority (ARC) revealed this Tuesday, 12 September, that it does not oppose the merger in the acquisition of InterCement, owner of the company Cimentos de Moçambique S.A, a transaction planned by Huaxin Cement Co, Ltd."

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