TCC International Holdings (HKG:1136) announced that the acquisition of 97.94% stake in Scitus Cement (China) Holdings Limited was completed on January 6. The target group holds majority interests in several concrete, clinker and cement manufacturing companies in the southwestern region of the PRC.

On 13 February 2012, TCC received copies of arbitration notices issued by China International Economic and Trade Arbitration Commission dated 13 February 2012 together with relevant arbitration applications in respect of certain pre-emptive rights held by minority shareholders in the manufacturing companies under the relevant joint venture agreements.

TCC is collecting information in relation to the potential arbitrations and will consider seeking relevant legal advice.