Dacon Corporation, DMCI Holdings, Inc. and Semirara Mining and Power Corporation signed signed a share purchase agreement to acquire Cemex Asian South East Corporation from CEMEX Espana, S.A.

Dacon Corporation, DMCI Holdings, Inc. (PSE:DMC) and Semirara Mining and Power Corporation (PSE:SCC) signed signed a share purchase agreement to acquire Cemex Asian South East Corporation from CEMEX Espana, S.A. on April 25, 2024. The consideration consists of $305.6 million in cash. As part of the consideration, $305.6 million was paid towards common equity.

The deal is subject to securing clearance from the Philippine Competition Commission, and completing a mandatory tender offer (MTO) to the minority shareholders of CHP. The transaction is expected to close before the end of the year, contingent on key conditions. Lazard Freres & Co.

LLC and UBS AG, Singapore Branch acted as financial advisor to Cemex. Jonathan Stone, Jacqueline Arena, Andrew Cohn, Rajeev Duggal, Gregory A. Fernicola, Andrew Foster, Nazmiye Anna Gokcebay, Zachary Levine of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Cemex Asia.