Philippines: CRH is considering selling its cement business in the Philippines. The company has engaged UBS Group to assess investors’ interest in acquiring assets, with negotiations ongoing. In 2019, CRH attempted to sell its Philippines cement business for US$2 – 3bn as part of an asset portfolio optimisation, but the divestment is reportedly now worth ‘significantly’ less due to a ‘more complex’ business environment, according to AK&M Information Agency.
CRH first entered the Philippine market in 2015 by acquiring Republic Cement, the second largest cement producer in the Philippines.
This post was originally published on here
