Holcim to sell majority stake in Philippines unit to China's Huaxin for $527 million

Holcim AG

02/08/2026 08:20

Aug 2 (Reuters) - Swiss building materials supplier Holcim Group HOLN.S said on Sunday it would sell a nearly 68% stake in its Philippines business to China's Huaxin Building Materials 600801.SS for $527 million.
Holcim said it expected to complete the sale in the first half of 2027. 
It said the deal was structured so it could also exit its remaining stake within 3 to 5 years, at a minimum price of $280 million.
Holcim said it could benefit from "additional cash upside" during this period.
In July, Holcim said housing construction was recovering and upgraded its outlook for 2026 organic sales growth to 5% from a previous range of 3% to 5%.

(Reporting by Sumedha Mukherjee in Bengaluru; Editing by Kate Mayberry)
((Sumedha.Mukherjee2@thomsonreuters.com))