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16. August 2002 |
Cement plant sell-off - Holcim buys all shares belonging to workers of Novi Popovac cement works
BELGRADE – The world’s second largest cement group Holcim has bought a 10.85 percent stake in the Novi Popovac plant for some $8.13 million, boosting its equity to 80.85 percent, Reuters reports.
The Swiss company bought a 70 percent stake in the plant late last year for $52.5 million, took over the factory’s $36.6 million debt and pledged to invest $83.9 million over the next five years.
The deal was part of an international tender in which Serbia sold three cement plants in the first major sell-off since the fall of the Milosevic regime. (Reuters)
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