Gamma Civic Ltd (MUSE:GCL) entered into a share purchase agreement to acquire the remaining 51.01% stake in Holcim (Mauritius) Ltd. and Cement Logistics Ltd from Holcim (Outre-Mer) S.A.S. for approximately MUR 720 million on August 3, 2015. Holcim Mauritius will be renamed Kolos Cement Ltd. and upon completion, Gamma will set up a new Board to manage the company which shall be composed of Directors having the required expertise. For the year ended on December 31, 2014, total assets of MUR 682.6 million, revenue of MUR 1.35 billion, operating profit of MUR 300 million, net income of MUR 257 million and shareholders' equity of MUR 536 million.

The transaction is subject to all necessary approvals and authorizations under the Non-Citizens (PropertyRestriction) Act, Competition Commission of Mauritius and approval by Gamma of its shareholders. The Gamma shareholders approved the transaction on August 10, 2015. Holcim Mauritius was renamed to Kolos Cement Ltd on September 30, 2015.

The transaction is expected to complete latest by June 30, 2016. Deloitte - Mauritius acted as an accountant for Gamma Civic Ltd. The conversion were done through oanda.com on August 5, 2015.