Huaxin Cement (06655) completed the acquisition of an African cement company

Zhitong Finance App News, Huaxin Cement (06655) issued an announcement regarding (i) Huaxin (Hainan) Investment Co., Ltd. (Buyer A), a wholly-owned subsidiary of the Company, acquires 100% of the shares of Caricement B.V. (Target Company A) held by Holderfin B.V. (seller); and (ii) Huaxin (Hong Kong) International Holdings Limited (Buyer B), a wholly-owned subsidiary of the company, acquires 100% of Davis Peak Holdings Limited (Target Company B) held by the seller Equity transactions. The buyer and seller sign an equity purchase agreement. Accordingly, the buyer conditionally agreed to the acquisition, and the seller conditionally agreed to sell 100 per cent of the shares in the subject company. The transaction cost was US$8381.3 million (and may be subject to downward customary adjustments in accordance with the value impairment clause of the Equity Acquisition Agreement). The acquisition completed the equity settlement on August 29, 2025, and the buyer paid a price of US$773.86 million after making downward customary adjustments in accordance with the value impairment clause of the “Share Acquisition Agreement”. After the delivery was completed, the target company became an indirect wholly-owned subsidiary of the company, and since the target company held 83.81% of the final target company's shares, and the final target company also became a subsidiary of the company, the financial performance of the target company and the final target company were incorporated into the company's comprehensive financial accounts.