11 de noviembre de 2016 / 0:02 / hace 9 meses

Mexico's Elementia completes $213 mln capital hike for Giant buy

MEXICO CITY, Nov 10 (Reuters) - Mexico's Elementia, a cement company partly owned by billionaire Carlos Slim, said on Thursday it had completed its 4.37 billion peso ($213 million) capital raise and could now complete its takeover of U.S. peer Giant Cement Holding.

The company said that the share offer concluded with subscription of almost 95 percent. Majority shareholders said they were interested in taking the remainder, it added.

It will now buy the 55 percent of Giant Cement for some $220 million, Elementia said, and lend it some $305 million.

Giant has operations in the east coast of the United States, including three cement plants, three limestone quarries and six terminals, Elementia said previously. ($1 = 20.5500 pesos) (Reporting by Christine Murray; Editing by Cynthia Osterman)

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