Holcim to sell Philippines unit to China’s Huaxin in $807 million deal

The Swiss company has been focusing more on Europe, Latin America, North Africa and ​Australia as it reshapes its business after spinning off its North American operations into a separate company last year.

Swiss building materials ‌supplier Holcim Group said on Sunday it plans to sell its Philippines business to China's Huaxin Building Materials in a deal that could raise at least $807 million.95 billion) to spend on acquisitions up to 2030, and could raise ​up to 6 billion ​Swiss francs more ⁠from divestments and extra borrowing for large deals and share buybacks.