CHINA - Italcementi Group Disposes of Its 5.24% Stake in West China Cement

Byjirong

Updated Mon, 28 Sep 2015 14:31:39 GMT

Italcementi Group, via its affiliate CimFra (China) Limited S.A.S., has disposed of its 5.24% stake in West China Cement for upfront consideration of HKD 341 million, equivalent to approximately € 38,5 million, subject to later adjustments through a derivative contract with Credit Agricole CIB. The disposal of the minority WCC stake has no impact on EBITDA generation capacity at Group level. For further details on the transaction, please refer to regulatory disclosures made by CimFra (China) S.A.S. with the Hong Kong market regulatory authorities.