HONG KONG: LafargeHolcim Ltd’s listed Philippines unit soared the most in more than a decade, after people with knowledge of the matter said the global cement giant is exploring options for its business in the country.
Shares of Holcim Philippines Inc jumped as much as 34% in Manila trading yesterday, the most intraday since July 2004. They closed up 15% to 7.30 pesos. LafargeHolcim is weighing options for its Philippines business, including a potential sale, as it seeks to further reduce debt by selling non-core assets, according to the people.
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