Cement News tagged under: BASF

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BASF in talks to sell construction materials business to Lone Star

04 December 2019, Published under Cement News

Germany’s BASF and private equity firm Lone Star are reportedly in exclusive negotiations for the sale of the former’s construction chemicals business, according to Bloomberg. Estimations have placed the unit at a value of around EUR3bn. In 2007 BASF acquired the business from Degussa, predecessor to Evonik, for EUR2.7bn but put the business up for sale last year. Following talks with LafargeHolcim, Cinven, which owns Chryso, and Bain Capital, owner of MKM, were both said to be in the run...

No large acquisitions for LafargeHolcim

29 October 2019, Published under Cement News

LafargeHolcim does not expect to be bidding for BASF’s construction chemicals business, according to CEO, Jan Jenisch. Following the divestment of some of its businesses and using the proceeds to pay down debt, the cement producer is more likely to look at smaller transactions and investment in its existing operations, Mr Jenisch said. "It's not like we have a couple of billions we want to throw at anyone. We are quite happy to have this new solid balance sheet, and have no plans to go ba...

Where will LafargeHolcim reinvest?

05 July 2019, Published under Cement News

In the last year LafargeHolcim has been disposing of assets in the cement market in which it no longer sees long-term value. This has meant the US$917m sale of its 80.6 per cent share holding in PT Holcim Indonesia to PT Semen Indonesia as well as its 51 per cent stake in Lafarge Malaysia for US$365m and the disposal of its 91 per cent holding in Holcim Singapore to YTL Cement. Closure of the sale of Holcim Philippines Inc to San Miguel Corp for US$2.5bn is expected to be completed in ...