Cement News tagged under: Disposals
Deadline day reached for Lafarge India bids04 July 2016, Published under Cement NewsToday (4 July) sees the passing of the deadline by which bidders must submit binding offers for Lafarge India's assets. According to press sources, five companies – three domestic and two foreign – are in the running for the facilities, which include production capacity of 11Mta. The five firms submitting their bids today are: Cemex, Anhui Conch, JSW Cement, Piramal Enterprises and the Nirma Group. Of the five, only JSW Cement has a significant presence in the Indian market: the company h... |
India: Jaypee Group debts threaten cement unit sale04 July 2016, Published under Cement NewsCreditors of Indian conglomerate Jaypee Group have invoked debt restructuring provisions that allow them to convert loans into equity, turning them into the firm’s majority shareholders, reports the Economic Times. Jaypee Group is struggling under debts of INR582.5bn (US$8.7bn) and had agreed to sell its cement unit to UltraTech Cement to raise capital. Following the move by banks, UltraTech is understood to have written to the Gaur family – who founded and still run Jaypee – questioning ... |
India: Five bidders still in running for Lafarge01 June 2016, Published under Cement NewsThe Financial Express reports that Lafarge India has reduced the number of bidders vying to acquire its assets to a shortlist of five: Cemex, Anhui Conch Cement, JSW Cement, Piramal Enterprises and the Nirma Group. Of the five, only JSW Cement has a significant presence in the Indian market, although Piramal and Nirma both operate in other sectors in the country. Lafarge India’s assets amount to a capacity of 11Mta and include mining rights. The six plants included in the sale are loca... |
ASEC Cement closes sale to Misr Cement Qena24 November 2015, Published under Cement NewsASEC Cement, a business unit of Qalaa Holdings, on Sunday announced it reached financial close on the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co to Misr Cement Qena for total consideration of around EGP1bn (US$127m). “We are pleased to announce the sale process closed today, putting in place another cornerstone in our strategy to deleverage at both the holding and platform company levels,” said Qalaa Holdings chairman and founder, Ahmed Heikal. “Both ASE... |
Reliance Infrastructure to sell its cement business, India05 November 2015, Published under Cement NewsReliance Infrastructure on Wednesday said it has decided to sell its cement manufacturing and road development businesses to focus on defence. "The 5.8Mta cement business and related assets will be disposed off through a formal process. The company has short-listed seven potential buyers from a total of 15 parties that submitted preliminary expressions of interest," according to the company. While Reliance has been talking of its plans of monetising assets, the board of the company approve... |
Cemex completes Austrian & Hungarian disposals03 November 2015, Published under Cement NewsCemex announced yesterday that it has closed the sale of operations in Austria and Hungary to the Rohrdorfer Group for approximately EUR160.1m. The transaction was originally announced on 12 August 2015. The Austrian operations consist of 24 aggregate quarries (approximately 6.47Mt of aggregates sold in 2014) and 34 ready-mix plants (approximately 1.6Mm3 of ready-mix sold in 2014). Cemex's operations in Austria had net sales of approximately US$241m in 2014. The Hungarian operations consi... |
CMA welcomes recent sale of UK plants07 August 2015, Published under Cement NewsThe UK’s Competition and Markets Authority (CMA) has welcomed the sale of plants by Lafarge Tarmac and Hanson. In the Competition Commission’s (CC) market investigation report published in January 2014, the CC had ordered Lafarge Tarmac to sell one of two cement plants and Hanson to sell one of its ground granulated blast furnace slag (GGBS) plants to enhance competition in the cement and GGBS markets in Great Britain. Lafarge Tarmac and Hope Construction Materials Ltd (Hope) both appealed... |
Graymont finalises Holcim NZ lime acquisitions07 July 2015, Published under Cement NewsGraymont has finalised the previously-announced acquisition of two New Zealand-based producers, McDonald’s Lime and Taylor’s Lime from Holcim. “Completion of this acquisition represents a milestone in terms of extending Graymont’s reach beyond North America to serve new customers in select global markets,” stated Graymont President and Chief Executive Officer, Stéphane Godin. “We have great confidence in the long-term growth prospects of the New Zealand economy and the region.” Gl... |