Cement News tagged under: Mergers & Acquisitions

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Alexandria Development seeks 100% acquisition of Alexandria Portland Cement

09 December 2019, Published under Cement News

Egypt’s Alexandria Development Ltd (Titan Cement International) has announced its intention to acquire the remaining 11.07 per cent stake in Alexandria Portland Cement. It already owns 88.93 per cent of the company and is expected to offer EGP6/share (US$0.37/share) in cash for the remaining stake. Once the deal completes, the company would delist Alexandria Portland Cement from the Egyptian Exchange, according to Reuters.

BASF in talks to sell construction materials business to Lone Star

04 December 2019, Published under Cement News

Germany’s BASF and private equity firm Lone Star are reportedly in exclusive negotiations for the sale of the former’s construction chemicals business, according to Bloomberg. Estimations have placed the unit at a value of around EUR3bn. In 2007 BASF acquired the business from Degussa, predecessor to Evonik, for EUR2.7bn but put the business up for sale last year. Following talks with LafargeHolcim, Cinven, which owns Chryso, and Bain Capital, owner of MKM, were both said to be in the run...

Dalmia Cement reportedly considers acquiring Emami Cement assets

12 September 2019, Published under Cement News

India’s Dalmia Cement (Bharat) has reportedly submitted an expression of interest in acquiring the cement assets of Emami Group, which have been valued at INR60bn (US$841.9m), according to The Economic Times. "Dalmia Bharat is currently studying the financials provided by the bankers of Emami Cement. The strategy will be decided once we conclude our assessment and firm up our intent to proceed. Moreover, we have a healthy leverage but would always keep all options open," said the company i...

RAK Cement cancels cement plant acquisition plans

11 September 2019, Published under Cement News

UAE-based Ras Al Khaimah Cement has reportedly cancelled a deal to acquire a cement plant and quarry as financing could not be arranged, according to Reuters. While the name of the plant and quarry were not released in the statement, the company had previously planned to acquire the Newtech cement plant and Al Banna quarry in Fujairah. However, the deal, valued at AED450m (US$122.5m), was pushed back to the 2Q19 due to incomplete financing procedures.

Dalmia Bharat-led bid approved by lenders

09 March 2018, Published under Cement News

Lenders to the bankrupt Binani Cement have decided that a a Dalmia Bharat-led bid would be allowed, thereby overruling the objections of UltraTech Cement. The offer fulfilled all of the conditions and hence there is no reason to block it, reports a source for The Economic Times. At a meeting held in Mumbai on Wednesday, the lenders involved decided to seek the approval of their respective boards on the Dalmia-Bain bid, where it was also revealed that Dalmia had received CCI approval for t...

UltraTech seeks clarity on Binani Cement bidding process

07 March 2018, Published under Cement News

UltraTech has approached the National Company Law Tribunal (NCLT) in Kolkata, seeking clarity on the evaluation of bids for Binani Cement, according to India Info Online. Dalmia Bharat outbid the company by approximately INR1bn (US$15.39m) to eventually win the assets. However, it has been reported that parameters such as the company’s background, experience and ability to pay upfront cash to secured lenders were taken into account. Binani Industries (BIL) has also petitioned the NCLT, cl...

CNBM & Sinoma merger could complete by year-end

12 September 2017, Published under Cement News

China National Building Material Group Co (CNBM) said that it will complete merging with China National Materials Group Corp (Sinoma) by December or early next year. The announcement came after nine subsidiaries of the two groups suspended trading last week. Various media outlets, quoting business insiders, indicated they were accelerating the merger. The merger was first unveiled in August last year after the State Council, or China’s Cabinet, approved the deal. The exchange ratio has ...

Buzzi Unicem acquires 50% of Ecotrade SpA

07 September 2017, Published under Cement News

Buzzi Unicem has acquired 50 per cent of Ecotrade SpA, a company with approximately 30 years of experience in the supply and recycling of industrial waste and byproducts for cement production. Ecotrade has been handling contracts to supply coal ash from power plants and blastfurnace slag from steel mills around the world for decades, supplying them to cement plants across several continents. Deliveries of these byproducts have reached peaks of over 2Mta, Buzzi said in a statement. Ecotrade...

Vulcan reaches agreement to acquire Polaris Materials

05 September 2017, Published under Cement News

Vulcan Materials announced that it has reached a definitive agreement to acquire Polaris Materials, an aggregates and logistics company, which serves key California markets from strategically situated operations in British Columbia.  The Polaris business includes an aggregates processing plant and deepwater port on Vancouver Island along with associated long term aggregate reserves and five distribution yard outlets in the San Francisco Bay Area and in Long Beach, California. "We are very...

UltraTech sees profit growth in 1QFY18

19 July 2017, Published under Cement News

UltraTech Cement Ltd, an Aditya Birla Group Company, yesterday announced its unaudited financial results for the quarter ended 30 June, 2017. The results include those of the cement plants of Jaiprakash Associates Ltd (JAL) and Jaypee Cement Corporation Ltd (JCCL) acquired in terms of a Scheme of Arrangement effective 29 June 2017. Net sales for the period stood at INR69.38bn as compared to INR65.35bn in the corresponding period of the previous year. Profit before interest, depreciation an...