May 11, 2020 / 9:09 AM / in 16 days

LafargeHolcim to keep Philippines business after San Miguel deal collapses

ZURICH, May 11 (Reuters) - Lafargeholcim will keep its Philippines business after its deal to sell the operations, valued at $2.15 billion, to San Miguel Corporation collapsed, the world's largest cement maker said on Monday.

"We have decided to no longer sell our business in the Philippines," LafargeHolcim said, citing the changed circumstances following the coronavirus pandemic.

"The Philippines is one of the most high-growth countries in the Asia-Pacific region and we intend to maintain our leadership position there," the company added.

Reporting by John Revill; Editing by Michael Shields

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