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International Cement to acquire African company for US$104.4m

It says having a commercially operational plant, as opposed to building a new one, will eliminate project risk


INTERNATIONAL Cement Group is acquiring Schwenk Namibia Pty Ltd for US$104.4 million in cash, comprising US$19.3 million for all its shares, and another US$85.1 million for the purchase of its loans.

The firm entered into a conditional sale and purchase agreement with...

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