Cement News tagged under: Mergers & Acquisitions

RSS feed

Hanil completes acquisition of Hyundai Cement

19 July 2017, Published under Cement News

Hanil Cement Co has completed the acquisition of Hyundai Cement Co in South Korea. The consortium of Hanil Cement and LK Investment Partners has paid US$552.2m for a controlling stake of 84.56 per cent stake (or 14.17m shares) of Hyundai Cement from 32 creditors, including the Korea Development Bank and Hana Financial Investment Co. The two companies formed HLK Holdings, a special purpose company, to acquire the shares. Hyundai Cement held a shareholders’ meeting on Tuesday, approving the ...

M&A in Italy: a step in the right direction

23 June 2017, Published under Cement News

News that Buzzi Unicem is acquiring fellow Italian cement producer Cementizillo SpA is seen as a small but welcome step in the right direction for the fragmented Italian cement industry. Last Friday Buzzi announced it had acquired 47.9 per cent of the share capital of Cementizillo and the remaining 52.1 per cent will be purchased from Mr AG Zillo, the sole director, in early July. The acquisition includes two integrated cement plants at Moncelice and at Fanna and will make Buzzi the clea...

Trinetra minority shareholders challenge merger plan

20 June 2017, Published under Cement News

Minority shareholders of Trinetra Cements, a subsidiary of India Cements, have approached India's National Company Law Appellate Tribunal (NCLAT), to challenge the planned merger of the two companies, Business Standard of India reports. Arvind Aggarwal and Ritu Aggarwal, who own around 2.4 per cent shares in Rajasthan-based Trinetra, have alleged there are various deficiencies in the merger scheme sanctioned by the Chennai bench of National Company Law Tribunal (NCLT) in April. The petiti...

Italcementi workers presents demands

25 April 2016, Published under Cement News

The Italian unions Feneal Uil, Filca Cisl and Cgil Fillea representing Italcementi cement workers, have announced a strike in response to the industrial plan proposed by the government, which may result in 415 dismissals this year and further 250 redundancies in 2017. On 14 April, workers at Italcementi declared their intention to strike, arguing that Heidelbergcement, which is in the process of acquiring the Italian cement manufacturer, had failed to address workers’ concerns. HeidelbergCe...

Cementir: hearing with creditors and opening of creditors’ vote for Sacci's composition

16 March 2016, Published under Cement News

Cementir Holding has announced that the hearing with creditors for Sacci’s composition, which includes the offer to purchase its business divisions submitted by Cementir Holding’s subsidiary Cementir Italia Spa, was held on 14 March 2016 before the Court of Rome. The offer was formally accepted by the Board of Directors of Sacci Spa during its meeting on 10 March 2016. Sacci’s creditors will be able to express their vote within 20 days of the hearing, in accordance with Article 178, para...