Portuguese conglomerate Semapa announced on Friday the sale of its cement subsidiary Secil to the Spanish group Cementos Molins for an enterprise value of 1.4 billion euros (1.64 billion dollars).
Semapa currently holds 100% of the share capital of Secil, a major player in the cement market in Portugal and several countries, including Tunisia.
This transaction, expected to be finalized in the first quarter of 2026, will be financed by Cementos Molins through a combination of available cash, a syndicated loan, and a bond issue, according to the Spanish group.
The announcement propelled Semapa’s stock by nearly 16% at the start of trading, reaching its highest level since July 2018.
Secil is not just a Portuguese cement company. The subsidiary has been operating in Tunisia for over twenty years, with several industrial sites: Société des Ciments de Gabès (SCG, nearly 98.8% owned by Semapa), Sud Béton, and Zarzis Béton, which ensure the production of cement and concrete for the Tunisian market.
SCG, active since 2000, has an annual capacity of 2 million tonnes of cement, while Sud Béton and Zarzis Béton complement the offering with ready-mix concrete and prefabricated products, forming an integrated industrial group.
For Cementos Molins, the takeover of Secil strengthens a presence it has already had in Tunisia since 2008 with the cement company SOTACIB (65% of the capital acquired for 86 million euros).
SOTACIB has an annual production capacity of 350,000 tonnes of white cement in Feriana, exports to Algeria, Libya, and France, and had built a second production line in 2009 as well as a new cement plant in Kairouan in 2010.
With the acquisition of Secil, the Tunisian operations will come under Spanish control. Cementos Molins announced its intention to maintain and develop existing operations, while potentially considering new investments, a reorganization of sites, or a strategic repositioning.
