Cement News tagged under: Mergers

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San Miguel Corp and Holcim Philippines face opposition to merger deal

10 June 2019, Published under Cement News

President Rodrigo Duterte of the Philippines has been asked by the construction industry and property developers to call a halt to the proposed US$2.15bn merger between San Miguel Corp (SMC) and Holcim Philippines Inc (LafargeHolcim group) to prevent the emergence of a cartel. End users of cement are opposed to the prospect of more control of the cement sector going to one  company. Speaking about the deal a spokesperson for those against the deal said," it will definitely result in a carte...

PPC

26 April 2018, Published under Cement News

PPC is reportedly in talks with China National Materials Co (Sinoma) over the sale of a majority stake in PPC’s operations in the Democratic Republic of Congo. Over the last five years, PPC has invested ZAR12bn (US$995m) in new capacity, taking the company into Ethiopia as well as the Democratic Republic of Congo. However, an oversupply of cement in Congo has led to what PPC describes as a “challenging” time in the country, forcing it to negotiate a debt holiday with lenders. It is now lo...

Hurtado Vicuña looking for merger support

05 March 2018, Published under Cement News

Chilean holding Grupo Hurtado Vicuña will seek support from small shareholders for a merger of its Cementos Bicentenario (BSA) with Cementos Polpaico. The merger is expected to create Chile’s largest cement company, overtaking Cemento Melon and Cementos Bío Bío. The group’s share in Cementos Polpaico currently stands at 57.1 per cent. Volcan and Megeve could complicate the merger, according to Esmerk. To enable the merger to go ahead Hurtado Vicuña has also had to agree to sell some B...

Ash Grove Cement gives stockholder approval for CRH merger

23 October 2017, Published under Cement News

Ash Grove Cement Company has announced that its previous agreement for the merger with CRH plc, under which CRH plc will acquire Ash Grov Cement, has been approved by stockholders holding more than a majority of the outstanding voting stock, acting by written consent. Following execution of the CRH merger agreement, stockholders representing approximately 63.4 per cent of the outstanding voting stock delivered written consents approving the transaction, of which, consents representing appr...

RHI AG and RHI Magnesita merger set for 26 October

17 October 2017, Published under Cement News

The merger of RHI AG with its wholly-owned subsidiary RHI Magnesita NV should become effective on 26 October 2017. Upon such effectiveness, RHI AG will cease to exist as legal entity. The Dutch Authority for the Financial Markets (AFM) has approved the prospectus for admission to listing of RHI Magnesita shares on the Premium Listing segment of the Official List of the UK Financial Conduct Authority and to trading on the London Stock Exchange’s Main Market for listed securities.   Acco...

CNBM moves closer to full integration of 15 listed subsidiaries

11 October 2017, Published under Cement News

China National Building Materials Group Corp is moving closer to full integration with talks ongoing to integrate some of CNBM 15 subsidiaries listed both at home and abroad. Among the 15 publicly-traded companies, three are listed overseas. The move follows the announcement in September of a merger between CNBM Group and China National Materials Group Corp (also known as Sinoma), another state-owned building materials giant. According to a statement jointly released by the two companies e...

Summit Materials revealed as US$3.8bn bidder for Ash Grove Cement

09 October 2017, Published under Cement News

US cement maker Summit Materials has been revealed as the US$3.8bn bidder for Ash Grove Cement, according to a Reuters' source. The bid was submitted last week to trump an earlier takeover bid from Irish building materials firm CRH Plc. Ash Grove said earlier on Friday that it had received a new bid from an unnamed party which valued the business at US$3.7-US$3.8bn . The source said Summit Materials’ bid was submitted on Thursday and is currently being considered by Ash Grove’s board...

Arabian Cement in merger talks with Al Safwa Cement

09 October 2017, Published under Cement News

Arabian Cement has entered into potential merger talks with Al Safwa Cement of Saudi Arabia, owned by El Khayyat Group, Public Pension Authority (PPA) and General Organisation for Social Insurance (GOSI). Arabian Cement has been attracted by the locational advantage of the plants of both companies and source of raw materials, besides the cost savings in selling, general and administrative expenses and relatively lean inventories, according to Al-Rajhi Capital Research. In addition, both...

PIC reportedly backs joint offer for PPC

13 September 2017, Published under Cement News

PPC'S largest shareholder, Public Investment Corporation (PIC), is supporting a joint offer for South Africa's biggest cement-maker from domestic rival AfriSam Group and Canadian insurer Fairfax Financial Holdings, as the merger would create a national champion, according to people familiar with the matter, reported in the Cape Argus. The enlarged cement producer will be able to benefit from significant cost savings as well as expand more effectively on the continent, according to the sou...

Lafarge Africa to seek shareholders approval

17 May 2017, Published under Cement News

Lafarge Africa is to seek shareholders’ approval for a NGN140bn (US$443m) rights issue during its 58th Annual General Meeting to be held on 7 June 2017, the company has informed the Nigerian Stock Exchange. Also on the AGM agenda is a proposal to shareholders to approve the merger of subsidiary Unicem into Lafarge Africa. The proposals, according to the company, will strengthen its balance sheet and capital structure by reducing foreign currency exposure and optimising the Lafarge Afric...