Huaxin (Hong Kong) International Holdings Limited entered into a Share Purchase Agreement to acquire 59.58% stake in Oman Cement Company SAOG from Oman Investment Authority for approximately $190 million.

Huaxin (Hong Kong) International Holdings Limited entered into a Share Purchase Agreement to acquire 59.58% stake in Oman Cement Company SAOG (MSM:OCOI) from Oman Investment Authority for approximately $190 million on March 13, 2023. According to the Takeover and Acquisition Regulation issued by the Oman Capital Market Authority, the completion of the acquisition will trigger the obligation to make an offer to the remaining shareholders of the Oman Cement Company SAOG which will result in the Huaxin owning a maximum shareholding in the Oman Cement Company SAOG of 75%. Completion is subject to certain conditions including regulatory approvals and filings in Oman and in China.

The longstop date is agreed to be June 1, 2023.