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Mozambique: ARC will not oppose acquisition of Cimentos de Moçambique
3:42 CAT | 12 Sep 2023
FILE - For illustration purposes only. [File photo: Domingo]
he Competition Regulatory Authority (ARC) will not oppose the acquisition by Huaxin Cement Co, Ltd, through its subsidiary Huaxin (Hong Kong) International Holdings Ltd of 100% of the shares in Natal Portland Cement Company (Pty), Ltd. held by InterCement Trading Inversiones, SAU, which in turn owns Cimentos de Moçambique S.A.
NPC holds stakes in South African and Mozambican companies, namely InterCement South Africa Proprietary Limited, NPC InterCement (RF) Proprietary Limited (in South Africa) and Cimentos de Moçambique S.A., in Mozambique.
ARC understands that this transaction constitutes a business concentration operation through which Huaxin Hong Kong will acquire exclusive control over Cimentos de Moçambique.
It also states that this is a concentration operation subject to prior notification to the ARC as required by Competition Law and its regulations.
READ: Huaxin Cement buys remaining African business from InterCement, Mozambique assets included
Chinese company takes over Cimentos de Moçambique
Source: Domingo
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