Holcim cuts SCCC stake
Swiss cement giant cites cost-saving effort
- Published: 22 Dec 2012 at 00.00
- Newspaper section: Business
Holcim, the world's biggest cement maker, has reduced its ownership in Siam City Cement Plc (SCCC) to 27.5% from 36.8% as part of its US$410 million in asset sales in Thailand and Guatemala.
The Swiss firm cut its stake in SCCC, Thailand's No.2 cement maker, by selling to Bangkok Broadcasting and Television Co (BBTV), the operator of Channel 7.
Members of the Ratanarak family, founding major Thai shareholders of SCCC, own a majority stake in BBTV and Bank of Ayudhya.
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