Cement News tagged under: divestment
CDC seeks ARM divestment18 January 2018, Published under Cement NewsThe Commonwealth Development Corp (CDC), the UK government agency that acquired a 42 per cent stake in ARM Cement, is reportedly in talks with several, mostly Asian, companies to sell its shares in the Kenyan cement producer. When it invested in ARM Cement, the agency provided a US$140m cash injection to turn the cement firm around, but this has turned out to be insufficient. |
Hurtado Vicuña on the verge of completing required divestment10 January 2018, Published under Cement NewsGrupo Hurtado Vicuña is expected to be soon completing the divestment of a part of Cementos Bicentenario (BSA) assets, one of the main conditions imposed by Chile’s Fiscalia Nacional Economica (FNE) and its anti-competition authority, TDLC, in terms of the company’s acquisition of Cementos Polpaico shares. Certain sources suggest that offers have been received for the BSA assets and that due diligence has started with a deal likely to be completed before the end of this month, reports El ... |
HeidelbergCement03 January 2018, Published under Cement NewsHeidelbergCement has decided to divest of its calcium silicate business and has agreed to sell its seven plants in Germany and one in Switzerland to the Danish group H+H International for around EUR110m. The business is expecting to achieve a turnover of around EUR65m in 2017 with the EBITDA margin being around 20 per cent. H+H International currently operates 13 calcium carbonate plants in Europe and is in the process of acquiring a further business in Poland in addition to the deal w... |
CRH completes US distribution operation divestment03 January 2018, Published under Cement NewsCRH plc reached an agreement to divest its Americas Distribution business for a total cash consideration of US$2.63bn on 24 August 2017, and the company has announced today that this transaction is now complete. The company said the price achieved from the sale of its US distribution operation to Beacon Roofing Supply represents 16 times earnings before interest, tax, depreciation and amortisation. A note by Dublin-based brokers Davy said in August that CRH’s disposal of its US distributio... |
Italy's Antitrust Authority approves Cementir Italia sale20 November 2017, Published under Cement NewsThe Italian Antitrust Authority (AGCM) has approved the sale of Cementir Italia and its subsidiaries Cementir Sacci SpA and Betontir SpA to Italcementi. Following the closing of the transaction, which is expected in the first days of January 2018, Italcementi will be required to adopt certain structural remedies, including the divestiture of some plants and behavioural measures. Italcementi will select the facilities to be divested among those identified by AGCM, which has established pre... |
HeidelbergCement reduces Georgia investment13 November 2017, Published under Cement NewsHeidelbergCement is raising EUR115m (US$134m) by selling 50 per cent of its Georgian subsidiary to a Georgian investment fund called Cement Invest, which belongs to Georgian Co-Investment Fund and Hunnewell Partners, a special situations investment fund. HeidelbergCement has been active in Georgia since 2006 and a new kiln line is currently under construction that is expected be completed by the end of 2018. Currently, there are three integrated cement works, one grinding centre, 13 ready... |
Quantum Global exits Savannah Cement20 October 2017, Published under Cement NewsFollowing the receipt of regulatory approvals, Quantum Global Group has completed the sale of its stake in Savannah Cement. "We are delighted to have partnered with Savannah Cement in one of the critical industry sectors in East Africa, advancing together to aim to close the existing infrastructure gap in Africa. The exit from this investment is testament to the success of our approach of deploying capital in transformative sectors of key importance in Africa at the right time,’" said Qua... |
Votorantim10 October 2017, Published under Cement NewsThe Votorantim Cimentos has announced its intention to sell its 50 per cent interest in the northen Florida cement company, Suwannee American Cement LLC. The joint owner of Suwannee American Cement is the privately-held construction company Anderson Columbia. |
Cemex sells remaining direct GCC interest28 September 2017, Published under Cement NewsCemex annnounced it has sold 31,483,332 shares of common stock (the "Shares") of Grupo Cementos de Chihuahua, SAB de CV (GCC), which represents approximately 9.47 per cent of the equity capital of GCC. Proceeds from the sale were around US$168m, which will be used mainly for debt reduction and general corporate purposes. Cemex continues to have an approximate 20 per cent indirect interest in GCC through CAMCEM, SA de CV, an entity that owns a majority interest in GCC and in which Cemex ha... |
Votorantim Cimentos to sell stake in Suwannee American28 September 2017, Published under Cement NewsBrazil-based Votorantim Cimentos is to sell its 50 per cent stake in Suwannee American Cement (SAC), located in northern Florida, USA. The sale is part of Votorantim’s strategy of prioritising assets and reducing its debt. SAC supplies cement to the construction markets of Florida and southern Georgia from its 1Mta Branford plant. Although the plant was in the path of Hurricane Irma, it has remained largely unaffected, according to information obtained by ICR. Thanks to precautions ta... |