Cement News tagged under: Divestments

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CRH to divest European Distribution business to Blackstone

02 August 2019, Published under Cement News

CRH plc has agreed to divest its European Distribution business to private equity funds managed by Blackstone for EUR1.64bn, subject to regulatory approval. The sale includes CRH's entire General Builders Merchant business in Europe, including its sanitary heating and plumbing business. It supplies building materials to professional builders, specialists contractors and DIY customers through a network of local and regional brands across six countries in western Europe. The divestment follo...

CRH divests its European Distribution business for EUR1.64bn

16 July 2019, Published under Cement News

CRH has agreed the divestment of its European Distribution business to private equity funds managed by Blackstone for an enterprise value of EUR1.64bn in cash, subject to regulatory approval. The divested business unit consists of CRH's entire general builders merchants business in Europe, including its sanitary heating and plumbing business that serve professional builders, contractors and DIY customers across six countries. In 2018 the business unit generated proforma EBITDA of EUR155m on...

HeidelbergCement makes further progress with portfolio optimisation

09 April 2019, Published under Cement News

HeidelbergCement’s subsidiary Italcementi has signed contracts with Buzzi Unicem and Colacem regarding the disposals of cement plants in the northern and central region of Italy. The involved parties agreed not to disclose details of the transactions for the time being.  “These divestments are part of our action plan to accelerate our portfolio optimisation,” said Dr Scheifele, chairman of the Managing Board of HeidelbergCement. “We are well on our way to reach our target of EUR1.5bn of d...

HeidelbergCement reduces its stake in Ciments du Maroc

22 February 2019, Published under Cement News

As part of its action plan to optimise its portfolio and improve cash generation, HeidelbergCement is its reducing stake in Ciments du Maroc. HeidelbergCement announces the sale of around 1.1m shares, representing 7.8 per cent of Ciments du Maroc's share capital, for an aggregate amount of approximately EUR140m. The shares were sold to Moroccan institutional investors through an off-market block trade. Following this transaction, HeidelbergCement retains a controlling stake of 54.6 per ce...

LafargeHolcim lines up Middle East Africa assets for US$8bn divestment

08 February 2019, Published under Cement News

Just a week after closing the US$1.75bn divestment of Holcim Indonesia, LafargeHolcim is understood to be contemplating the sale of its Middle East-Africa business unit, according to Bloomberg. The sale of the group's Middle East-Africa unit would take divestments well beyond the group's announced target of CHF2bn (US$2bn). In 2018 LafargeHolcim's Middle East-Africa operations are forecast to contribute 13.5 per cent (CHF816m) of group EBITDA and 11.2 per cent (CHF3090m) of group revenue ...

HeidelbergCement targets cash generation

04 February 2019, Published under Cement News

This week the trend for divestments from the large multinationals was again demonstrated by LafargeHolcim's admission that it may seek a buyer for its operations in the Philippines , but it is not alone in trying to seek markets with higher returns. The selling hat is also being worn by HeidelbergCement, which held its Commerzbank German Investment Seminar 2019 in New York on 14 January. Dr Bernd Scheifele, Group CEO, gave a presentation update on the performance of the group in 2018 with s...

HeidelbergCement targets cash generation

01 February 2019, Published under Cement News

This week the trend for divestments from the large multinationals was again demonstrated by LafargeHolcim's admission that it may seek a buyer for its operations in the Philippines , but it is not alone in trying to seek markets with higher returns. The selling hat is also being worn by HeidelbergCement, which held its Commerzbank German Investment Seminar 2019 in New York on 14 January. Dr Bernd Scheifele, Group CEO, gave a presentation update on the performance of the group in 2018 with s...

LafargeHolcim could seek up to US$2.5bn for its Philippines business

28 January 2019, Published under Cement News

Shares of Holcim Philippines have been rising steeply as LafargeHolcim is believed to be considering the sale of its Philippines business unit to further reduce group debt. LafargeHolcim is undergoing a strategic review of its southeast Asian operations following the sale of its Indonesian business. The company could seek a value of US$2.5bn for the assets it holds in the Philippines, according to Bloomberg. LafargeHolcim's CEO, Jan Jenisch, said in May that the company’s southeast Asia bu...

Raysut shareholders agree to sell Oman Portuguese Cement Products

03 August 2017, Published under Cement News

Raysut Cement shareholders have approved a proposal to sell Oman Portuguese Cement Products Co to Opal Development. The decision was taken at an extraordinary general meeting of the company held on 25 July 2017, Raysut Cement said in a disclosure statement posted on the Muscat Securities Market website. Meanwhile, earlier this month, Raysut Cement had announced that its net profit for the first six months of 2017 fell 64.2 per cent to OMR4.62m (US$12m) from OMR12.91m for the same pe...

FTC approves divestment of Martinsburg plant and related assets

19 July 2017, Published under Cement News

Following a public comment period, the US' Federal Trade Commission (FTC) has approved an application from HeidelbergCement AG and Italcementi SpA to sell the Essroc cement plant in Martinsburg (WV), eight cement terminals in the mid-Atlantic and related assets to Argos USA LLC, a subsidiary of Cementos Argos SA. The divestiture is required by the FTC's August 2016 final order settling charges that the merger of Heidelberg and Italcementi would likely harm competition in five regional mar...