Bain, CVC, 3i Eyeing HeidelbergCement Malaysian Assets

Bain, CVC, 3i Eyeing HeidelbergCement Malaysian Assets
Published: 28 July 2009

Private equity firms Bain Capital LLC, CVC Capital Partners Ltd. and 3i Group PLC have shown interest in buying HeidelbergCement AG’s Malaysian assets worth at least US$200m, people familiar with the deal said Monday.
In the latest disposal by the debt-ridden German cement maker, HeidelbergCement is selling the Malaysian assets it acquired when it bought U.K. building materials firm Hanson in 2007. HeidelbergCement has 40 ready-mixed concrete plants, 17 aggregate quarries and 20 asphalt plants in Malaysia, according to the company’s web site.
Standard Chartered is advising on the sale of these assets, and recently sent out an information memorandum requesting bids, the people said.
Last month, HeidelbergCement sold a 14.1% stake in Inodonesian cement producer Indocement Tunggal Prakarsa (INTP.JK) for about US$310m, equivalent to IDR6,000 a share. Indocement operates 12 plants in Indonesia.