Cement News tagged under: Divestments

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PPC sells lime operations to Kgatelopele Lime

04 May 2021, Published under Cement News

South Africa’s PPC has announced the sale of its lime operations to Kgatelopele Lime for ZAR515m (US$35.5m). The net proceeds from the divestment are part of PPC’s capital restructuring programme, with the net proceeds set to be used to de-gear its South African balance sheet. "This divestment from our lime assets, which we consider non-core to our business, is timely and plays a vital role in our capital restructuring strategy to reduce our South African debt. This will support the South ...

The search is on for new investors in Brazil's cement sector

23 April 2021, Published under Cement News

Brazil's cement market has been the focus of much attention in recent weeks firstly, with the completion of the CRH cement assets in the country to Companhia Nacional de Cimento (CNC), and more recently the unconfirmed reports that Banco Itau BBA is preparing to advise on the divestment of LafargeHolcim's Brazilian unit.  The sale of the Swiss multinational's cement interests in Brazil is expected to raise up to US$1.5bn, according to analysts  UBS European Building Materials . These fund...

Al Akaria sells stake in Hail Cement

23 November 2020, Published under Cement News

Saudi Arabia’s Al Akaria, a real estate company, has sold its entire stake in Hail Cement Co at a value of SAR96.9m (US$25.84m). The company had a stake of 6m shares and made a profit of SAR36.9m in the transaction, according to a statement on the Saudi Stock Exchange.

Loma Negra sells majority stake in Yguazú Cementos

27 August 2020, Published under Cement News

Argentina-based Loma Negra (Intercement) has sold its 51 per cent majority stake in Paraguay’s Yguazú Cementos. The value of the deal was not announced, but the company had been valued at US$80m. The buyer was a local shareholder company ConcretMix (owned by Grupo Bogarín), according to a note sent to Argentina’s National Securities Commission. Loma Negra is expected to use the funds from the transaction to pay its debt with local banks. In 2000 Intercement founded Yguazú Cementos in partn...

Holcim Philippines expected to remain within group

23 July 2020, Published under Cement News

Following the lapse of sale agreement with San Miguel Corp earlier this year, Holcim Philippines is now expected to remain within LafargeHolcim, according to the company's CEO, John Stull, in an annual meeting on Wednesday. "We are very pleased to know that we are no longer in the sales process and we're very excited about the future working with one of the largest and most successful companies in the building material sector and we're happy to remain part of the group," said Mr Stull. Th...

UltraTech Cement's subsidiary to sell entire stake in Shandong Binani Rongan Cement

08 July 2020, Published under Cement News

India’s UltraTech Cement has announced that its Krishna Holdings subsidiary will sell its entire stake in Shandong Binani Rongan Cement Co for a value of US$120m. "Krishna Holdings Pte Ltd, incorporated in Singapore and a subsidiary of the company’s wholly-owned subsidiary UltraTech Nathdwara Cement Ltd, has informed that it has entered into a binding agreement for divesting its entire equity shareholding of 92.5 per cent in Shandong Binani Rongan Cement Co Ltd," stated the company. Shan...

Suez Cement looks to sell stake in Hilal Cement

11 March 2020, Published under Cement News

Egypt’s Suez Cement has decided to place its 51 per cent stake in Kuwait-based Hilal Cement up for sale, according to a statement to the country’s stock exchange. Elsewhere, the company’s board has also approved a proposal to obtain a three-year US$125m loan from HeidelbergCement, its parent company. The funds are expected to be used to offset local overdue payments.

Cemex set to divest certain UK assets to Breedon Group

08 January 2020, Published under Cement News

UK-based Breedon Group has announced that it has entered into a conditional agreement with Cemex to acquire certain assets and operations in the UK for a total consideration of GBP178m, on a cash and debt free basis. The assets encompass approximately 100 active operations, including 49 ready-mix plants, 28 aggregate quarries, 4 depots, 1 cement terminal, 14 asphalt plants and 4 concrete products operations. The operations are located across six divisions located in Scotland, Wales, north-...

Dongwu Cement to sell stake in wastewater treatment company

18 December 2019, Published under Cement News

China’s Dongwu Cement has announced that its subsidiary, Xinhua Shanghai Investment Management Co, plans to divest its entire 62.26 per cent stake in Shanghai Biofit Environmental Technology Co. The total consideration for the divestment is estimated at CNY22m (US$3.14m). Shanghai Biofit and its subsidiaries are principally engaged in the treatment of organic wastewater and sludge, alongside the comprehensive treatment of urban organic waste.

CRH reportedly in talks to sell stake in Indian joint venture

13 December 2019, Published under Cement News

CRH is reportedly in talks to exit its joint venture with India’s My Home Group, according to VC Circle. In 2008, CRH acquired the 50 per cent stake in My Home Industries for around US$450m and the deal would see this returned to the Indian group. My Home Industries operates across four locations in Andhra Pradesh, Tamil Nadu and Telangana, with a total cement capacity of 9.6Mta. The company is a market leader in Andhra Pradesh and Telangana under its flagship brand of Maha Cement.