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Trinidad Cement Ltd (TCL) is proceeding with the acquisition of all outstanding shares of Readymix West Indies Ltd, following a SEC order to de-register Readymix as a reporting issuer. TCL will pay $13.42 per share to minority shareholders.
Trinidad Cement Ltd (TCL) acquired over 90% of shares in Readymix (West Indies) Ltd, bringing its total stake to about 97.23%, after a takeover bid launched in late March 2017. Readymix supplies pre-mixed concrete and owns an aggregate plant.
Cemex has announced a takeover bid for Trinidad Cement Limited at a 33.1% premium. Full acceptance would result in a cash payment of approximately US$89 million.