October 13, 2016 / 3:47 PM / 2 years ago

Mexico's Elementia says to buy 55 pct of Giant Cement

MEXICO CITY, Oct 13 (Reuters) - Mexico’s Elementia, a cement maker partly owned by billionaire Carlos Slim, said on Thursday it had signed a letter of intent to purchase 55 percent of Giant Cement Holdings Inc.

In a statement, Elementia said Giant had operations in the east coast of the United States, including three cement plants, three limestone quarries and six terminals.

“The Giant acquisition will grant Elementia access to the third biggest cement market in the world,” the company said.

Elementia did not mention a price in the statement. (Reporting by Dave Graham)

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