Cement News tagged under: Divestments

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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...

LH says its Australian and New Zealand operations are not up for sale

30 November 2015, Published under Cement News

LafargeHolcim said its Australian and New Zealand operations are not currently on the sale block, according to Bloomberg reports following press speculation at the end of last week. Media reports on Friday suggested that the world's largest cement producer was considering exiting the region with the disposal of its operations in Australia and New Zealand for a potential amount of AUD3bn (CHF2.2bn) However, Bloomberg this morning reported that LafargeHolcim has said that the operations ...

Vietnam northern province to divest state stakes in Lang Son Cement

27 November 2015, Published under Cement News

The People’s Committee of Vietnam’s northern province of Lang Son plans to sell state stakes in Lang Son Cement JSC (LCC) at a put-through price is set at VND1380 ($0.06) each plus a margin of 15 per cent, the Dau Tu newspaper reported. LCC has a registered capital of VND58.39bn, of which the committee holds a 43.55 per cent stake, according to CaFef.vn newswire reported.

Reliance Group to exit cement business?

08 October 2015, Published under Cement News

The Reliance Group has decided to exit the cement business by putting privately-held Reliance Cements up for sale, the Economic Times of India reports. Reliance Group has recently mandated Morgan Stanley and SBI Caps to find potential buyers as the group has decided to focus on new growth areas like defence, according to the article published today. Reliance's foray into the cement industry was originally linked to the growth of its power business with fly ash generated from its Sasan pow...

Cemex USA announces divestment in the southeastern United States

28 September 2015, Published under Cement News

Cemex USA announced Friday that it has signed an agreement for the sale of its gypsum wallboard business based in Florida to US LBM. The proceeds obtained from this transaction, which will not be for a material amount, will be used mainly by Cemex USA’s affiliates for debt reduction and for general corporate purposes. The transaction is expected to be completed by end-2015. Bank of America Merrill Lynch and Citigroup acted as financial advisors to Cemex in this transaction.

Qalaa Holdings first-half revenues up by a third, Egypt

23 September 2015, Published under Cement News

Qalaa Holdings (formerly Citadel Capital) released its consolidated financial results for the quarter ending 30 June 2015, reporting revenues of EGP2086.8m, up 33.7 per cent compared to the same quarter of last year. In the second quarter alone, the energy and cement divisions contributed some 70 per cent of total revenues.   On a six months basis, revenues climbed 37.8 per cent YoY in 1H15 to EGP4,034.3m. EBITDA meanwhile stood at EGP565.1m in the first half of 2015, a 169 per cent increa...