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

Swiss building materials company Holcim announced plans to sell its Philippines subsidiary to China's Huaxin Building Materials in a transaction valued at $807 million. The initial 68% stake will be sold for $527 million, with the remaining portion to be transferred in increments over a period of three to five years, raising a minimum of $280 million. This marks Holcim's largest divestment since December 2024, when it sold its Nigeria business to Huaxin Cement for $1 billion.

The funds generated from the Philippines sale will be allocated towards fueling significant acquisitions and further investments in Holcim's current operations. Recently, the Swiss firm has been targeting Europe, Latin America, North Africa, and Australia for expansion, as it continues to pivot away from North America following the establishment of a separate entity last year. Holcim anticipates making approximately 15 acquisitions in 2026 as part of its growth strategy.

Holcim disclosed a budget of 3 billion to 4 billion Swiss francs ($3.72 billion to $4.95 billion) for acquisitions between now and 2030, with the potential to secure an additional 6 billion Swiss francs ($6.44 billion) through divestments and additional borrowing. The company's CEO, Miljan Gutovic, highlighted a robust pipeline of acquisition opportunities, spanning various sectors in Latin America, Europe, and parts of Asia, the Middle East, and Africa.

Gutovic expressed optimism about the M&A front in the latter half of 2026, stating, "We are constantly screening our landscape, from walling and flooring solution companies all the way to roofing, and we believe there are some very attractive markets." He expressed confidence that Holcim would experience strong momentum in M&A activities during that period.