Dec 19 (Reuters) - Portuguese conglomerate Semapa has agreed to sell its cement maker Secil to Spain's Cementos Molins for an enterprise value of 1.4 billion euros ($1.64 billion), it said on Friday.
Cementos Molins to Acquire Secil from Semapa for $1.64 Billion
Dec 19 (Reuters) - Portuguese conglomerate Semapa has agreed to sell its cement maker Secil to Spain's Cementos Molins for an enterprise value of 1.4 billion euros ($1.64 billion), it said on Friday.
Shares in Semapa rose by nearly 16% in early trading after the announcement, reaching their highest value since July 2018.
Semapa owns the entire share capital of Secil, controls the pulp and paper producer Navigator and also has businesses in the environmental and hydrogen sectors.
Cementos Molins said it will finance the transaction with a combination of available cash and funds from a syndicated credit agreement and a bond issuance.
The closing of the transaction is expected in the first quarter of 2026.
($1 = 0.8541 euros)
(Reporting by Joao Manuel Mauricio; Editing by David Latona)
