Cement News tagged under: Divestments

RSS feed

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...

Italcementi disposes of WCC stake

21 September 2015, Published under Cement News

Italcementi Group, via its affiliate CimFra (China) Ltd SAS, has disposed of its 5.24 per cent stake in West China Cement (WCC) for an upfront consideration of HKD341m, equivalent to approximately EUR38.5m, subject to later adjustments through a derivative contract with Credit Agricole CIB. The disposal of the minority WCC stake has no impact on EBITDA generation capacity at group level, Italcementi said in a statement on Friday.

China: MCC unit to sell cement assets

14 September 2015, Published under Cement News

China 22MCC Group Corporation Ltd, a wholly-owned subsidiary of the China Metallurgical Group Corporation (MCC), plans to sell cement assets for a combined CNY57.64m, according to the China Beijing Equity Exchange. China 22MCC Group aims to sell its 6.7379 per cent stake in Jidong Cement Luan County Corp for about CNY44.44m and its nine per cent stake in Tianjian Jidong Cement Corp for around CNY13.19m. Jidong Cement Luan County Corp is a subsidiary of Jidong Cement which holds a 67.5861pe...

Peru: Volcan mulls sale of Polpaico shares

08 September 2015, Published under Cement News

Peruvian mining firm Volcan could sell its share in Chilean cement company Polpaico if metal prices continue falling, according to the firm's CFO Jorge Murillo. Volcan could receive around USD 27mn (EUR 24.22m) for its share, of around 20 per cent, in the business. Holcim owns 54.3 per cent of Polpaico.

LH to sell two eastern Indian plants to Birla Corp

17 August 2015, Published under Cement News

LafargeHolcim announces that it has entered into a letter agreement with Birla Corp Ltd, subject to approval by the Competition Commission of India (CCI), for the divestment of certain assets in India for an enterprise value of INR50bn (approximately US$765.8m). The proceeds from the sale of the divestment business will be used to further reduce debt. As announced in April 2015, LafargeHolcim has received conditional clearance from the CCI for the merger. In that context, a package of ass...