Cement News tagged under: Acquisition

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Ramco Industries to sell Kharagpur grinding unit

07 March 2018, Published under Cement News

Ramco Industries Ltd has agreed with The Ramco Cements Ltd, a related party, for the sale of its clinker grinding unit in Kharagpur, West Bengal. 

The revenue contribution of the said unit was INR30,470m (US¢469m) - four per cent of Ramco Industries Ltd's revenue. The buyer will provide cash consideration of INR170m (US$36.1m) as part of the deal.

UltraTech and Dalmia Bharat highest bidders in Binani Cement deal

19 February 2018, Published under Cement News

UltraTech Cement and Dalmia Bharat-Bain Piramal Resurgence Fund consortium are leading the bids for Binani Cement, according to Indiainfoline. Both partieshave submitted bids of approximately INR60,000m (US$927.9m). For the final decision to be made by the creditors, both the bidders are asked to furnish additional details pertaining to their bids. In addition, UltraTech is required to provide information on a Competition Commission of India (CCI) penalty. In 2016, CCI imposed a penalty of ...

Dewan Cement strikes deal with Mega Conglomerate

08 February 2018, Published under Cement News

Mega Conglomerate Pvt Ltd has agreed to acquire a 87.5 per cent stake in Pakistan’s Dewan Cement, according to a bourse filing by BMA Capital Management Ltd. The acquisition will see 75 per cent shares pass hands through agreement and a further 12.5 per cent through a public offering. The deal follows a week of roller coaster movements, according to Pakistan Today. The amount of the acquisition was not disclosed.

Asia Cement acquires Halla Cement

23 January 2018, Published under Cement News

Hong Kong-based Baring Private Equity Asia (BPEA) has sold Halla Cement, a South Korean cement producer, to Asia Cement for US$723m. Halla Cement, formerly known as Lafarge Halla Cement, operates an integrated main plant and three slag cement plants, with a capacity of 7.6Mta. With its acquisition, Asia Cement will become the third-largest cement player in Korea with a 19 per cent market share. "The Korean cement industry is consolidating, and Halla Cement has a leading market positio...

Invesa raises Bío Bío stake

18 January 2018, Published under Cement News

Following the launch of a public offer to buy 54,208,259 shares in Cementos Bío Bío (CBB) last month, Inversiones y Desarrollos (Invesa) has confirmed it has increased its stake in the Chilean cement producer to 39.5606 per cent. Invesa paid CLP847 (US$1.40)/share for the recently-bought 0.0448 per cent stake. In November it had acquired a 13.1 per cent share in CBB from Brazil-based Votorantim for around US$46m. Taking into account the shares held by other businesses of the Invesa fam...

Shree Cement to acquire 93% stake in Union Cement

12 January 2018, Published under Cement News

Shree Cement Ltd announced on Thursday that it had agreed to acquire a 92.83 per cent stake in Union Cement Co PSC, for an enterprise value of US$305.24m, according to the Hindustan Times. The deal will increase Shree Cement’s capacity to 33.3Mta from 29.3Mta, and is expected to be concluded within nine months.  Shree Cement has the option to take full control of the company’s shares, said Subhash Jajoo, CFO, Shree Cement. Union Cement is based in the UAE and has a total capacity of 4...

McInnis Cement could be up for sale

08 January 2018, Published under Cement News

A Canadian pension fund has hired advisers to explore the possible sale or partial sale of McInnis Cement, reports Bloomberg. Caisse de Depot et Placement du Québec and its partners have hired advisers to explore options to sell part or all of McInnis Cement. McInnis Cement project was the first new cement plant to serve eastern Canada and New England in more than 50 years when it opened last year. McInnis Cement has a deep-water marine terminal next to the 2.2Mta Port-Daniel-Gascons...

HeidelbergCement on path to consolidate Italian market

05 January 2018, Published under Cement News

HeidelbergCement's acquisition of Cementir Italy via its Italcementi subsidiary will make HeidelbergCement the Italian leader with a combined market share of around 38 per cent, ahead of Buzzi Unicem with 22.5 per cent, according to CIM-CIC Market Solutions. The research house also reports that the antitrust authority analysed the combined positions of the two entities (Italcementi and Cementir Italia) in eight commercial regions: Arquata (AL), Cagnano, Maddaloni, Spoletto, Tarante, Tar...

Italcementi completes Cementir Italia acquisition

03 January 2018, Published under Cement News

HeidelbergCement subsidiary Italcementi has completed the acquisition of Cementir Italia. All conditions for the closing of the transaction have been fulfilled following the approval by the Italian competition authority. "With the acquisition of Cementir Italia we significantly improve our nationwide presence in Italy," explains Dr Bernd Scheifele, chairman of the Managing Board of HeidelbergCement. "For Italcementi, the acquisition is a unique opportunity to grow and consolidate its posi...

Dalmia Bharat to acquire Murli Industries

21 December 2017, Published under Cement News

Dalmia Bharat is set to acquire the bankrupt Murli Industries, according to The Economic Times. The deal represents an investment of close to INR4bn (US$62.4m) by Dalmia. The company will also cancel almost the entire equity of Murli Industries. Dalmia won the bid on Wednesday, despite Gajanan Oil submitting a higher cash offer. Including interest and fines, Murli Industries had accumulated INR17bn in debt. Murli has an integrated cement plant with a capacity of 3Mta.