Latest news with #CementIndustry
Bloomberg
3 days ago
- Business
- Bloomberg
Attock Cement Pakistan Is Said to Draw Cherat, Bestway Interest
Pharaon Investment Group Ltd.'s potential sale of Attock Cement Pakistan Ltd. is attracting initial interest from rivals including Cherat Cement Co. and Bestway Group, people with knowledge of the matter said. Cherat and Bestway are among suitors considering bids for the business, the people said, asking not to be identified because the information is private. Kot Addu Power Co. has also been evaluating Attock and may explore a joint offer with a local building materials producer like Fauji Cement, the people said.
Argaam
22-05-2025
- Business
- Argaam
City Cement board recommends no dividend for H2 2024
City Cement Co. 's board of directors recommended on May 21 to withhold dividends for H2 2024. The decision aims to support its financial position until the completion of the acquisition deal, the company said in a statement to Tadawul. The recommendation will be submitted for approval in the upcoming shareholder meeting. City Cement last paid dividend for H1 2024 at 5% (SAR 0.5 per share), data compiled by Argaam showed. Last October, City Cement and Umm Al-Qura Cement Co. (UACC) signed a share-swap agreement, under which the latter will offer to acquire all UACC shares in exchange for newly-issued shares in City Cement. The table below highlights the acquisition details:
