Cement News tagged under: Mergers and Acquisitions
Dangote Cement31 January 2019, Published under Cement NewsDangote has placed several orders with the Aumund Group for its projects in Nigeria and Senegal. For the Obajana Line 5 and Okpella plants in Nigeria, both 6000tpd, Aumund is supplying a total of six belt bucket elevators and four pan conveyors. In addition, Schade Lagertechnik, also part of the Aumund Group, will supply two stackers, two portal reclaimers and additional stockyard equipment. Aumund Beijing has also received orders from Dangote for the cement producer’s Apapa project and its ... |
EAPCC denies reports of potential acquisition22 January 2019, Published under Cement NewsKenya’s East African Portland Cement Co (EAPCC) has denied recent reports that it was in early-stage talks with LafargeHolcim about a potential acquisition. "It has never featured in any board discussions," said the company’s head of financial management, Stephen Nthei, in an interview with Bloomberg. "I don’t think it’s a considerable move given the current shareholding structure." Lafarge currently holds a 41.7 per cent stake in EAPCC. However, the majority shareholders are the Kenyan g... |
Vicat closes acquisition of Ciplan22 January 2019, Published under Cement NewsVicat Group has announced the closure of its Ciplan acquisition and now holds a 64.7 per cent stake in the company. The deal was structured through a reserved capital increase of EUR295m, with the proceeds used to settle a vast majority of Ciplan’s existing debt, according to a press release. "With this acquisition, Vicat pursues its targeted external growth and geographical diversification strategy, through the incursion into a new emerging market benefitting from strong growth perspe... |
Will 2019 be noted as a year for acquisitions?21 January 2019, Published under Cement NewsIn the last week, HeidelbergCement has completed its divestment of its 50 per cent share in Ciment Quebec and its minority participation in Syria (Al Badia Cement via the Italcementi acquisition). The company also auctioned its Helwan plant in Egypt and divested its Ukrainian businesses, as it targeted divestments of EUR1.5bn by 2020. This is on the back of selling its stake in Lehigh White Cement in 2018. Having acquired Italcementi, HeidelbergCement has had to modify its swollen portfo... |
Emami Group to demerge solar assets from cement company20 December 2018, Published under Cement NewsIndia’s Emami Group has received National Company Law Tribunal (NCLT) approval to demerge its solar power assets from its cement company. The assets will be consolidated under Emami Power, which will allow Emami Cement to focus solely on its core business. "Proposed demerger is being undertaken with a view to consolidate the power production business in Emami Power while allowing our company to focus on its cement manufacturing operations," stated Emami Cement in July, before approval was r... |
Sagar Cements announces new investments in plant projects06 December 2018, Published under Cement NewsSagar Cements has approved significant investment in both Satguru Cements and Jajpur Cements, which will enable the company to expand its presence in central and eastern India. "The board has approved a proposal to invest a sum of INR1.5bn (US$21.1m) in Satguru Cement Pvt Ltd (SCPL), Indore, to set-up a greenfield cement manufacturing plant of 1Mta capacity along with a waste heat recovery power plant, at a total cost of INR4.26bn. SCL will be holding 65 per cent in the equity share capit... |
Unacem shareholders to discuss merger with Inversiones Andino04 December 2018, Published under Cement NewsPeru-based Unacem reported that its general meeting of shareholders will evaluate the proposal between the company and the Investment and Administration Trade Union, Inversiones Andino and Inmobilaria Pronto. The cement company explained that the main objective of the merger is to consolidate in Unacem the knowledge, strategies, experiences, specialisations, rights and other assets developed and managed by the three societies that would be absorbed. It also seeks to extinguish the contract... |
Kalambaina Cement to merge with CCNN30 November 2018, Published under Cement NewsBUA Group’s Kalambaina Cement Co has announced it received shareholder approval for a merger with the Cement Company of Northern Nigeria (CCNN). Abdul Samad Rabiu, chairman of the company, has stated that the deal would involve a high technical and complex infusion of the two companies. "This deal signposts shareholder confidence in the value proposition of the CCNN-Kalambaina merger and we are certain that the new entity can compete effectively in the cement industry in Nigeria whilst main... |
Austria's Leube acquires stake in Asamer21 November 2018, Published under Cement NewsAustria-based Leube cement plant has acquired a stake in Asamer, a building materials company based in the same country. The company has acquired a 24.99 per cent stake after the exit of Kurt Asamer from the business, which left the remaining partners with a combined share of 75.01 per cent. |
UltraTech's bid for Binani approved by NCLAT14 November 2018, Published under Cement NewsA bid submitted by India’s UltraTech Cement to acquire Binani Cement has received approval from the National Company Law Appellate Tribunal (NCLAT). A two-member bench of NCLAT, headed by Chairman Justice S J Mukhopadhaya, approved the company’s resolution plan and said that the plan submitted by Dalmia Bharat’s Rajputana Properties was “discriminatory” against some financial creditors, according to the Press Trust of India. |