Cement News tagged under: Mergers and Acquisitions
CSN confirms acquisition of Elizabeth Cimentos02 July 2021, Published under Cement NewsBrazil’s Companhia Siderúrgica Nacional (CSN), the largest steel company in Brazil and Latin America, has reached an agreement to acquire Elizabeth Cimentos for BRL1.08bn (US$214m). The deal has been made through its subsidiary, CSN Cimentos, and will boost its cement capacity in the northeast of the country by 1.3Mta, bringing it to around 6Mta in total. |
Votorantim Cimentos set to acquire Cementos Balboa30 June 2021, Published under Cement NewsVotorantim Cimentos, through its Spanish subsidiary Corporación Noroeste, has entered into an agreement for the full acquisition of Cementos Balboa. Cementos Balboa has an integrated plant in Alconera, southwest Spain, with an installed production capacity of 1.6Mta. "This transaction, which I am pleased to announce today, exemplifies our growth and positioning strategy in Spain, strengthening our current footprint in the country", said Marcelo Castelli, Global CEO of Votorantim Cimentos.... |
Panyam Cement prepares to restart operations28 June 2021, Published under Cement NewsIndia’s Panyam Cement, based in Andhra Pradesh, has received approval from the National Company Law Tribunal (NCLT) to begin operations once more. The NCLT approved the resolution plan for the defunct company, while its new management (RV Consulting Services Company and Sagar Power Ltd) are set to invest INR1bn (US$13.47m) to clear the loans of the previous management and a further INR1.5bn for fresh capital. |
PPC to sell Botswana aggregate quarry business11 June 2021, Published under Cement NewsSouth Africa-based PPC has entered into a binding sale and purchase agreement to sell its 100 per cent shareholding in PPC Aggregate Quarries Botswana Proprietary Ltd for a cash purchase consideration of BWP47.5m (US$4.49m). The purchaser is a construction and mining company in Botswana, with conditions for the agreement expected to be met by 1 August 2021. PPC also anticipates group EBITDA for continuing operations to increase by between 14-18 per cent YoY in the full-year ended 31 March 2... |
Schwenk to increase stake in Akmenės Cementas04 June 2021, Published under Cement NewsGermany’s Schwenk has received approval to increase its stake in Lithuania's only cement manufacturer, Akmenės Cementas. It was already the majority shareholder at 50.42 per cent but is now set to increase this to 96.98 per cent. Schwenk Zement Beteiligungen will also acquire 75.41 per cent of Kalcitas, a limestone and clay producer, and 100 per cent of Cemeka and Lanku Bokstai. |
Anjani Portland to acquire controlling stake in Bhavya Cements27 May 2021, Published under Cement NewsIndia’s Anjani Portland Cement has entered into a share purchase agreement for the acquisition of a controlling stake in Bhavya Cements, at a price of INR51.53/share (US$0.7/share). The objective of the deal is to improve the market presence of the company through the addition of a new brand, according to Anjani Portland. Bhavya currently operates around 1.4Mta of cement capacity and has annual revenues in the region of INR3bn. |
YTL Cement to consolidate Malaysian cement businesses13 May 2021, Published under Cement NewsYTL Cement (YTL Corp) has signed an agreement to sell its entire cement and RMC operations in Malaysia to its 76.98 per cent subsidiary Malayan Cement for a MYR5.16bn (US$1.25bn) cash and stock deal. The deal will see Malayan Cement acquire 12 companies from YTL Cement. YTL Cement’s shareholding in Malayan Cement is expected to increase to approximately 78.58 per cent upon completion of the agreement and the ongoing private placement of up to 85m new Malayan Cement shares. "YTL Cement wil... |
Sharcem set to acquire plant from Kazakhcement14 April 2021, Published under Cement NewsSingapore-based International Cement Group (ICG) has incorporated a new subsidiary in Kazakhstan. Sharcem will be 60 per cent owned by the group’s direct subsidiary, International Cement Shar Pte, and 40 per cent owned by Nurzhan Shakirov. Sharcem has subsequently entered into a sale and purchase agreement (SPA) with Kazakhcement and the Development Bank of Kazakhstan for the sale of a cement plant and related assets in the country. The total consideration of the agreement is KZT7.07bn (US$... |
Cargo Handlers acquires 30% stake in Jamaican cement importer21 December 2020, Published under Cement NewsCargo Handlers Ltd has acquired a 30 per cent stake in Buying House Cement Ltd, a cement importer based in Montego Bay that mostly supplies western Jamaica. Dominican Republic-based Domicem will continue to own 70 per cent of Buying House. According to CHL Chairman Mark Hart, the cement importer holds about 10 per cent of the local cement market that is dominated by Caribbean Cement Co. Mr Hart said the deal for the Buying House stake was recently completed and will take effect on 1 Jan... |
Breedon's asset disposal to complete shortly01 December 2020, Published under Cement NewsThe UK’s Competition and Markets Authority (CMA) has now accepted Breedon Group’s undertakings to dispose of certain assets to Tillicoultry Quarries. The company made the move to address the CMA’s concerns that its purchase of certain assets from Cemex UK may lessen competition in certain areas. In a statement to the London Stock Exchange, Breedon confirmed that it now expects the disposal of assets to Tillicoultry Quarries to complete shortly. |