Cement News tagged under: Divestments

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LafargeHolcim

02 March 2016, Published under Cement News

LafargeHolcim has inaugurated 0.1Mta of additional grinding capacity at the Ndola cement works in Zambia, taking the annual capacity there to 0.5Mt. In addition to supplying the domestic market, this works exports to the Congo. In France LafargeHolcim is ceasing clinker production at Le Havre and at La Couronne. There will be a considerable reduction in staffing levels as only 31 will remain at Le Havre and 27 at La Couronne. The US$765m deal to sell one integrated works and one grindi...

Glenwood PE & Baring Private Equity Asia reportedly make bid for Lafarge Halla Cement

15 February 2016, Published under Cement News

South Korea’s private equity fund Glenwood Private Equity and Hong Kong-based private equity fund Baring Private Equity Asia are to buy Lafarge Halla Cement Corp (South Korea) from LafargeHolcim Ltd for around KRW550bn (US$455.1m), report local media. According to investment bank industry sources on Friday, Glenwood PE, a preferred bidder of Lafarge Halla Cement, has notified LafargeHolcim, the largest shareholder of the Korean cement producer, that it selected Baring Private Equity Asia as...

LafargeHolcim receives revised divestment order from India

09 February 2016, Published under Cement News

LafargeHolcim has received a revised order from the Competition Commission of India (CCI) to divest its interest in Lafarge India, including three cement plants and two grinding stations with total capacity of 11Mta. " The proposed transaction is an alternate remedy for the merger of the group's legacy companies and now forms part of the company's CHF3.5bn (US$3.54bn) divestment target in 2016," LafargeHolcim said in a statement. Last week the building materials giant said it was reviewi...

Russia's Sberbank sells 6.12% stake in LafargeHolcim

08 February 2016, Published under Cement News

Russia's Sberbank confirmed on Friday it had sold a 6.12 per cent stake in LafargeHolcim to a group of foreign investors. Sberbank acquired a 6.12 per cent stake in LafargeHolcim in January from Eurocement Holding AG as part of a repurchase agreement.

KKR to swap stake in Dalmia Cement with listed parent

18 January 2016, Published under Cement News

Private equity firm KKR is swapping its stake in Dalmia Cement for a piece of its public listed parent, according to a stock market disclosure on Friday. "Dalmia Bharat Ltd (DBL) signed a definitive agreement with KKR, under which it will acquire KKR's 15 per cent stake in DCBL in return of KKR getting 8.5 per cent stake in DBL as well as INR600 crore [INR6bn/US$88.7m] in cash," Punit Dalmia, managing director of Dalmia Bharat Group, told the Press Trust of India. This deal not only simpl...

Anglo American completes exit from Tarmac

15 January 2016, Published under Cement News

Anglo American plc announces that it has completed the sale of its interests in the operating joint venture entities which have historically operated under the Tarmac name in the UAE, Oman and Qatar to Colas Moyen Orient SAS, a subsidiary of Colas SA, a road and transport infrastructure construction company forming part of the Bouygues Group. The sale to Colas of an additional non-operating joint venture entity in Oman is pending satisfaction of certain outstanding conditions. Completion of...

CRH confirms total disposal proceeds of EUR1bn for 2015

08 January 2016, Published under Cement News

CRH plc confirmed today total disposal proceeds of approximately EUR1bn in 2015. This comprises the previously announced sale of its clay and concrete products operations in the UK and the Group’s clay business in the US (EUR0.43bn) plus several additional divestments across Europe and the Americas for total proceeds of around EUR0.53bn. During 2015 the group also completed 20 bolt-on acquisition and investment transactions. These deals, together with the acquisition of assets from Lafarge...

India: Jaypee Group may sell remainder of cement business

08 December 2015, Published under Cement News

India-based Jaypee Group is to offload the remainder of its cement business with disposals expected to be concluded by March, Business Standard (India) reported citing sources familiar with the deal.  The proceeds will be used by Jaiprakash Associates to retire a part of its ~INR61,285 crore debt held in 2014-15, down from ~INR72,599 crore in 2013-14. Jaiprakash Associates had earlier sold two cement units in Gujarat and Madhya Pradesh to UltraTech Cement. It also sold its stake in the B...

Promoters of the Udaipur Cement Works to sell 13.64 per cent stake

08 December 2015, Published under Cement News

The promoters of the Udaipur Cement Works, including JK Lakshmi Cement Ltd, will sell their combined stake of 13.64 per cent in the company. The promoters of Udaipur Cement Works will sell the stake through the offer for sale (OFS) route today. "The floor price offered under the sale shall be INR10 per share of Udaipur Cement Works Ltd," the promoters told the Bombay Stock Exchange. "JK Lakshmi Cement, Florence Investech and JK Paper, part of the promoter group of Udaipur Cements Works, in...

Reliance may get final bids for cement unit by year-end, India

04 December 2015, Published under Cement News

Reliance Infrastructure is expected to get final bids from the shortlisted bidders for the sale of its cement business by 24 December 2015, according to sources close to the sale process. Last month the company announced it would be divesting of its cement and roads segments to focus on its defence business.  In March 2015, Reliance announced it would be acquiring Pipavav Defence & Offshore Engineering Co in an all-cash deal. In terms of the sale of its cement unit, Reliance said it ha...