Holcim selling Philippine unit for $807M

MANILA, Philippines — Switzerland-based cement giant Holcim Group is selling its Philippine business to China’s Huaxin Building Materials in a deal valued at about $807 million, the company announced on Sunday. Holcim will sell an initial 67.623-percent stake to the Wuhan-based company for $527 million, avoiding an upfront payment of the full purchase price. Then, the