Cement News tagged under: M&A
LafargeHolcim merger: implications for western Europe27 June 2014, Published under Cement NewsWhile the proposed Lafarge-Holcim (LH) merger is widely being regarded as a good fit for the two companies, satisfying competition authorities in a number of key markets where operations overlap is critical for the deal to proceed. In western Europe, the LH tie-up could accelerate the restructuring process already underway by the cement industry to improve regional businesses and any disposals required by the two groups are likely to be surmountable. To satisfy regulatory requirements Lafar... |
Israel: CRH mulls disposal of Nesher cement stake24 March 2014, Published under Cement NewsCRH Group is considering the sale of its 25 per cent stake in Mashav, the holding company for Nesher cement, Israel, which the Irish group acquired in 2001, reports The Sunday Independent. Newly arrived CEO, Albert Manifold, is carrying out a comprehensive review of the company’s businesses and has so far identified 45 that will be put up for sale. In a recent Annual Report filed in the US, CRH wrote of the 25 per cent stake in Mashav, prompting speculation that CRH will seek to offload the... |
Asia Cement (China) seeks M&A activity, strategic alliances17 March 2014, Published under Cement NewsAsia Cement’s China subsidiary is seeking mergers and acquisition opportunities, as well as the creation of strategic alliances, to raise production capacity and boost its competitive edge. Asia Cement (China) will target cement producers in China, including small and medium-sized firms in different regions. In early January, Asia Cement and its Chinese subsidiary singed a strategic partnership with Anhui Conch and China Conch Venture Holdings to explore opportunities in sharing green te... |
CRH04 January 2013, Published under Cement NewsCRH has announced it spent almost €630m on acquisitions and other development activity during 2012, of which €375m took place during the second half. Of that, €119m was spent in Europe and overseas and €256m in the Americas. Lemminkäinen Raakennustuotteet was purchased by CRH during September, adding 16 batching plants and eight concrete products plants with a total turnover of €85m. In December, CRH purchased the Manx assets of Cemex. It is the sole producer of sand and gravel on the Isle... |
Cimpor, Camargo Correa transaction moves ahead24 December 2012, Published under Cement NewsThe board of Cimpor has approved a swap of shares of its holding InterCement, paving the way for Camargo Correa to purchase the 21,2% stake held by Votorantim Cementos on Cimpor, according to reports in Valor Economico. InterCement is passing on the Cimpor 17 cement plants involving assets worth EUR817.1m and is receiving from InterCement assets worth EUR1199bn. The swap was coordinated by Morgan Stanley and Rothschild. The next step is to wind up the deal with Votorantim to collect EUR5.... |
CRH: July '1203 August 2012, Published under Cement NewsCRH's spending on acquisitions during the first half of the year amounted to €244m. The €155m spent in Europe and Asia included an equity injection into Yatai Building Materials that should enable the Chinese associate to increase its production capacity to 29Mt. The building products division bought three businesses – one each in Germany, Great Britain and Malaysia – while in The Netherlands six builders' merchants branches were purchased. The Portuguese joint venture Secil has been sold, ... |
Camargo Correa rejects Cimpor proposal as ‘unrealistic’15 May 2012, Published under Cement NewsBrazilian conglomerate Camargo Correa has rejected Cimpor management's counter-proposal for a merger with Camargo's cement unit, saying it was "unrealistic,” Reuters reports. Cimpor's board, which had earlier said the price of EUR5.5/share offered by Camargo was too low, said on Saturday a merger would widen Cimpor's portfolio and create better synergies, preventing the withdrawal of another Brazilian shareholder, Votorantim. Its proposal involves paying up to EUR1/share in dividends to C... |
InterCement plans asset swap with Votorantim07 May 2012, Published under Cement NewsInterCement, the cement unit of Brazilian industrial conglomerate Grupo Camargo Correa, on Sunday provided further details regarding its bid to acquire Cimpor. Camargo Correa said it hasn't changed its March 30 offer of EUR5.5 per Cimpor share, and said that payment would be made immediately after the offer closes, in cash, according to a report by Dow Jones News Service. The company stressed that Cimpor would remain a Portuguese company, and retain the same brand, and that it would be str... |
Martin Marietta violated confidentiality agreement, judge rules07 May 2012, Published under Cement NewsDelaware Judge Leo Strine has ruled that Martin Marietta violated a nondisclosure agreement with Vulcan and used confidential information in forming its USD5.3bn bid and proxy fight. It has been ordered to suspend all activities related to the deal for four months. Martin Marietta said on Monday, it would appeal the ruling: “We are disappointed with the decision rendered by the Delaware Court of Chancery, with which we strongly disagree,” the company said in a statement. “After carefully co... |