Following the submission of the Offer Document on 13 March 2025 and the subsequent amendment to the Offer announced on 11 April 2025, TC Mena Holdings Ltd ("TC Mena"), a subsidiary of Buzzi SpA, incorporated under the laws of the Abu Dhabi Global Market, has obtained acceptances representing 26.4% of the share capital of Gulf Cement Company PJSC ("GCC").
Including the 37.6% equity interest already held by TC Mena, the aggregate acceptances amount to 64.1% of GCC’s share capital. As a result, the Offer has surpassed the minimum acceptance threshold.
The Offer is expected to be declared unconditional and effective on or around 5 May 2025, while the Settlement Date is scheduled for 8 May 2025.