Cement News tagged under: Acquisition

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Siam Cement closing in on Vietnam acquisition

26 January 2012, Published under Cement News

Thailand’s Siam Cement said on Wednesday it was interested in buying a stake in a Vietnam cement maker and expects to spend less than THB10bn (US$315m) on the acquisition, Reuters reports. Siam Cement, which has recently  noted that it is seeking acquisition opportunities in Southeast Asia, expects to conclude details about the deal in the second half of this year, according to Chief Executive Kan Trakulhoon. Earlier this week the company also said it is looking at opportunities in Myanm...

Tongli Cement acquisition, China

19 January 2012, Published under Cement News

Henan Tongli Cement plans to acquire 100 per cent of Yima Coal Industry (Group) Cement Co Ltd from its majority shareholder Yima Coal Industry (Group), Sinocast reports. In view of the fact that the target company’s net assets are estimated to be negative CNY15.68m, the equity transfer price is CNY1. However, because the cement company is heavily in debt, Tongli Cement will provide CNY440m entrusted loans before the equity transfer and inject an additional CNY300m after the acquisition. Yi...