Malayan Cement buys YTL's cement biz for RM5.16b

Malayan Cement will acquire 12 companies involved in cement and ready-mixed concrete businesses, as well as marketing and plant management activities from its parent YTL Cement.

KUALA LUMPUR: Malayan Cement Bhd (MCB) is buying YTL Cement Bhd's entire cement and ready-mixed concrete operations in Malaysia for RM5.16bil cash consideration to increase MCB's business, bolster its profitability and enhance its value.

In the corporate exercise on Wednesday, MCB had entered into an agreement with YTL Cement, which is its parent company, to acquire 12 companies involved in cement and ready-mixed concrete businesses, as well as marketing and plant management activities