OREANDA-NEWS. Fitch Ratings (Thailand) Limited says Siam City Cement Public Company Limited's (SCCC; A(tha)/Stable/F1(tha)) ratings will not be affected by the decision by Holcim Limited (Holcim; BBB/Stable), a major shareholder via Thai Roc-Cem Ltd, to sell its shares in the Thai company.

SCCC's operational linkage with Holcim through its exporting network is relative small as SCCC generates more than 80% of revenue from domestic sales. SCCC also has its own marketing network in neighboring countries.

Holcim's board of directors has resolved to sell the group's non-controlling stake of 27.5% in SCCC. However, a detailed divestment plan has not yet been finalised. Holcim via Thai Roc-Cem is currently SCCC's second-largest shareholder after the Ratanarak family, who holds 45.4%. Holcim in December 2012 reduced its interest in SCCC to 27.5% from 36.8%. The disposal of the remaining stake is part of Holcim's portfolio optimisation strategy.