Cement News tagged under: Ciments Francais

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S&P raises Italcementi outlook to positive

09 October 2015, Published under Cement News

Standard & Poor's (S&P) has raised its outlook on Italcementi and its French subsidiary Ciments Francais to positive from stable. The BB/B ratings are affirmed. The outlook revision follows the completion of the rating's agency's review of HeidelbergCement's plans to purchase Italmobiliare's 45 per cent shareholding in Italcementi for approximately EUR1.67bn, announced in July 2015. S&P believes that the combined group's credit profile will likely be higher than that of Italcementi on a st...

Italcementi reaches threshold for squeeze-out of Ciments Français

04 July 2014, Published under Cement News

Italcementi said on Thursday it had bought more than 95 percent of share capital of Ciments Français, reaching the threshold for the squeeze-out of minorities at its French unit. Italcementi’s buyout bid for Ciments Français, which commenced on 13 June, is worth EUR79.50 (USS108.60) a share, ex dividend. The buy-out of minorities in Ciments Fran ç ais is part of the Italian cement major's plan to streamline its group structure and will lead to the delisting of the French unit from the P...

Ciments Français: Paris stock exchange delisting

16 June 2014, Published under Cement News

The offer of voluntary actions to buy Ciments Français shares at the price of EUR79.50 promoted by Italcementi, was approved by the AMF on 10 June and will run from 13 June until 3 July 2014. The offer, as previously announced, is aimed at delisting of the shares of Ciments Français from the Paris Stock Exchange. Therefore, if the tender offer results in Italcementi holding a stake of more than 95 per cent of the share capital and voting rights of Ciments Français, this will initiate a 'squ...

French market regulator clears Italcementi tender offer

11 June 2014, Published under Cement News

French market regulator Autorité des Marchés Financiers (AMF) has cleared Italcementi's tender offer on French unit Ciments Francais, paving the way for the operation aimed at strengthening the Italian cement maker. Italcementi is expected to launch the offer priced EUR79.5 per share by the end of the month. Italcementi owns 84.48 per cent in the French producer and 91.38 per cent of voting rights.

Italcementi prices EUR500m capital increase at EUR4.825/share

06 June 2014, Published under Cement News

Italian cement major Italcementi said its EUR500m capital increase will be priced at EUR4.825/share. The rights issue, part of a plan to strengthen and streamline the group's capital and structure announced on 6 March, is aimed at funding the tender offer on Ciment Francais expected to be launched by the end of the month at a price of EUR79.5/share. The capital increase, due to start on 9 June, will offer in option to shareholders three new shares for every seven shares owned at a price of...

Italcementi sets Ciments Francais bid price

20 May 2014, Published under Cement News

Italcementi said on Tuesday it had fixed the price in a takeover bid for the shares in its French unit Ciments Francais that it does not yet own at EUR79.5/share. The takeover, part of the company's restructuring of its European business, will be financed via a rights issue for up to EUR500m.

Italcementi approves capital hike, to delist Ciment Francais

06 March 2014, Published under Cement News

Italcementi approved a capital increase for up to EUR450m, and a voluntary public tender offer on all the minority shares it does not already own in French subsidiary Ciments Francais at EUR78/share. The plan, which includes the conversion of Italcementi savings shares into ordinary shares on a conversion ratio of 0.65 ordinary shares for each savings share, is part of efforts to boost and streamline the company's capital structure. Ciment Francais will be delisted from the Paris stoc...

Ciments Francais names Jean-Paul Meric chairman, France

17 April 2013, Published under Cement News

French cement producer Ciments Francais has promoted deputy director general Jean-Paul Meric to chairman, replacing Yves-Rene Nanot. Mr Nanot has been nominated honorary chairman of the company and will continue as a director, taking part in the work of the board. "The close collaboration established with Yves René Nanot shortly after the acquisition of Ciments Français by Italcementi has enabled one of the greatest industrial successes in  the Europe of the 2000s, recalls Giampiero ...

Ciments Francaise first-half revenue declines

31 July 2012, Published under Cement News

Ciments Francais, part of the Italcementi Group, reported that consolidated revenues for the first half of 2012 amounted to EUR1.9m, down 4.8 per cent YoY reflecting a 6.5 per cent drop in activity and a positive exchange-rate effect (+1.9 per cent). The most significant increases related to Bulgaria, North America, India and Thailand and the strongest reductions related to France/Belgium, Spain and Egypt. Recurring EBITDA amounted to EUR319.7m, down 17.1 per cent primarily due to reduced...

Sibirsky to pay out EUR4m on failed Set deal, Russia

15 March 2012, Published under Cement News

Sibirsky Cement has paid out over EUR4m to the London branch of Netherlands-based ING Bank NV regarding a failed deal between the Russian producer and Italcementi for Turkish assets, according to local press reports. In 2008, Sibirsky concluded an agreement with ING Bank to organize the purchase financing of the Italcementi Set Group of Turkey which is a subisidiary of Ciments Francais (which, in turn is a unit of Italcementi). The deal was not completed and the bank demanded compensation...