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NEW UPDATES Asean Affairs  18 May  2015  

Aboitiz Equity plans to buy Lafarge's Philippine cement business

Aboitiz Equity Ventures Inc. said it plans to partner with Irish building supplies group CRH Plc to buy the Philippines cement business of France's Lafarge, seeking to diversify into infrastructure.
Aboitiz, a large Philippines' conglomerate with interests in power generation and banking, said the potential acquisition would involve four cement manufacturing plants on the main island of Luzon, a plant in Cebu province and limestone quarries.
Financial terms were not disclosed.
"Venturing into infrastructure meets our growth criteria," Aboitiz Equity CEO Erramon Aboitiz said in a statement.
"We are very optimistic of the potential gains this new core business will bring to the group amid the huge demand for infrastructure in the Philippines."
Lafarge and Switzerland's Holcim Ltd. are disposing of assets to win regulatory approval for their planned merger to create the world's biggest cement firm.
A deal would be subject to the completion of the merger and approval by the boards of both Aboitiz and CRH, the Philippine company said.
EU antitrust regulators last month cleared CRH's planned €6.5 billion ($7.4 billion) purchase of a number of mostly European assets from Lafarge and Holcim.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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