The Competition Regulatory Authority (ARC) has given the green light for the full acquisition of Cimentos de Moçambique by Chinese company Huaxin Cement Co, through its wholly-owned subsidiary, Huaxin (Hong Kong) International Holdings.
In a statement, ARC announced that it does not oppose the operation of total concentration of shares held by InterCement Trading Inversiones in Natal Portland Cement Company (NPC), which is the owner of Cimentos de Moçambique, by Huaxin. This transaction is designed and, in accordance with article 3 of the Competition Law, represents a concentration operation by which Huaxin Hong Kong acquires exclusive control of Cimentos de Moçambique.
In July of this year, ARC received notification about this concentration operation, as stipulated in the Competition Law. The transaction is categorized as a Horizontal concentration operation, subject to prior notification to the Competition Regulatory Authority, in accordance with the regulations established by law.
NPC has stakes in South African and Mozambican companies, including InterCement South Africa Proprietary Limited, NPC InterCement (RF) Proprietary Limited (in South Africa) and Cimentos de Moçambique SA (in Mozambique).
