Cement News tagged under: Mergers and Acquisitions
CRH Ciment SA and Comnord SA accepts Romania’s Competition Council fine for unauthorised merger16 January 2018, Published under Cement NewsCRH Ciment and Comnord SA have been retrospectively fined RON3,056,314 (US$802,409) by Romania’s Competition Council for the implementation of a merger carried out before receiving the council's authorisation. In its analysis of a recent transaction, through which CRH Ciment SA became the sole shareholder of CRH Comnord SA, the Competition Council found that a previous operation had not been notified and authorised according to current rules, which prohibits mergers without notification a... |
Lafarge Africa to sell SA unit?05 January 2018, Published under Cement NewsLafarge Africa could put up its South African unit for sale, according to analysts at Exotix Capital. Proceeds of the sale could then be used to strategically shore up and stabilise the company’s Nigerian business, kickstarting the region’s merger and acquisition activity. The South African cement sector has become increasingly competitive while in the rest of Africa, PPC, Lafarge, Dangote, Bamburi and Twiga Cement are seen consolidating their markets. In addition, Chinese investors have ... |
CRH03 January 2018, Published under Cement NewsHaving started a process of due diligence, CRH has decided not to proceed with a bid for the African cement producer Pretoria Portland Cement. |
Cementos Molins reduces price for LafargeHolcim Bangladesh to US$62m28 December 2017, Published under Cement NewsCementos Molins (Spain) has reduced the purchase price for LafargeHolcim Bangladesh to US$62m, compared to the US$117m originally announced in December 2016 for 100 per cent of the company, which owns three cement grinding units in the Asian country. The acquisition relates to the ongoing restructuring of Lafarge and Holcim assets in Bangladesh following the LafargeHolcim merger. Cementos Molins was previously a joint venture partner in Bangladesh with Lafarge. |
China National Building Materials (CNBM)18 December 2017, Published under Cement NewsThe proposed takeover of China National Materials (Sinoma) by China National Building Materials (CNBM) has been given the green light by shareholders of the two companies. The two firms agreed to combine in September this year as part of a wider amalgamation of their biggest shareholders – the central government-run China National Building Material Group and China National Materials Group. The deal comes in response to Chinese government plans to streamline its giant state firms and end w... |
LafargeHolcim withdraws from further talks with PPC14 December 2017, Published under Cement NewsLafargeHolcim has ended talks with South Africa’s PPC about a potential deal, said the Swiss cement producer in a brief statement. The step comes only a day after Canada’s Fairfax Africa Investments Proprietary Ltd pulled out its attempt to buy 23 per cent of the South African cement producer and a week after CRH exits talks with PPC. |
CRH exits PPC talks but LafargeHolcim discussions continue07 December 2017, Published under Cement NewsIrish cement producer CRH has decided to pull out of the process to bid for rival PPC, the South African company said on Thursday. Last month, CRH made an undisclosed cash bid for PPC and had been given time for due diligence and to submit an updated bid, but CRH has now opted to drop its interest in PPC. "CRH has decided not to submit an updated expression of interest and therefore considers it appropriate to withdraw from the Independent Board’s process," PPC said in a statement. In... |
LafargeHolcim04 December 2017, Published under Cement NewsLafargeHolcim's subsidiary Lafarge Africa has bought out the minority shareholders in Ashaka Cement and has issued 85.26m shares as part of a share exchange agreement. |
Chile's Briones family hikes Bío Bío stake28 November 2017, Published under Cement NewsThe Briones family has decided to acquire a further 13.1 per cent stake in Cementos Bío Bío SA from Votorantim for more than CLP29bn (US$45.5m), according to Chilean daily La Tercera. This purchase would bring the Briones stake to 39.52 per cent, making it the largest shareholder in the Chilean cement producer, followed by a 19.03 per cent stake held by other members of the Briones family. Citing informed sources, La Tercera reported that Votorantim had approached the Chilean business... |
China National Building Materials (CNBM)27 November 2017, Published under Cement NewsChina National Building Materials (CNBM)’s proposed merger with China National Materials (Sinoma) has been given approval by the South Korean Fair Trade Commission. The merger, which was announced in September this year, has also been approved this month by China’s State-Owned Assets Supervison and Administration Commission (SASAC). SASAC, a special commission directly under the State Council, is responsible, among other things, for approving mergers and drafting laws related to China’s ... |