Cement News tagged under: Mergers and Acquisitions

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San Miguel's acquisition of Holcim Philippines undergoes further review

09 September 2019, Published under Cement News

The Philippine Competition Commission (PCC) is conducting a further review of the US$2.15bn acquisition of Holcim Philippines by San Miguel Corp. As the initial 30-day review of the deal ended on 22 August, the PPC will now proceed to the 60-day Phase Two review. “Cement is a commodity with low product differentiation where brands undergo the same quality standards. While the transaction is national in scope, the initial review shows that geographic markets by region affect retailers and ...

Zhejiang Shangfeng to acquire majority stake in cement producer

02 September 2019, Published under Cement News

China’s Zhejiang Shangfeng Building Materials Co is set to acquire a 65 per cent stake in Ningxia Mingfeng Mengcheng Building Materials Co, a producer of general Portland cement, clinker and special cement. The total value of the deal is CNY196.65m (US$27.76m). After completion, Ningxia Mingfeng is expected to become a holding subsidiary of Zhejiang Shangfeng. The acquisition will reportedly allow Zhejiang Shangfeng to increase the scale of the industry, enrich the product structure and enh...

UltraTech's acquisition of Century Cement to be completed soon

19 July 2019, Published under Cement News

India’s UltraTech Cement has confirmed that it will complete the merger of Century Cement in the second quarter of the FY19-20. The only pending approval which remains for the deal is the transfer of mining leases, which is expected to be completed soon, according to Kumar Mangalam Birla, chairman of the company. "After the completion of the Century Cement transaction, coupled with the on-going capacity expansion, our capacity will be augmented to over 117.35Mta, inclusive of its overseas o...

International Cement fails to receive SGX acquisition approval

24 June 2019, Published under Cement News

International Cement Group (ICG) has failed to receive approval from the Singapore Exchange (SGX) for the complete acquisition of Schwenk Namibia , valued at US$104.4m, according to Business Standard. The exchange has stated that the acquisition does not satisfy a requirement for the target business to be profitable. SGX also noted that ICG does not have sufficient cash resources to fund the acquisition and possibly intends to obtain significant external loans from financial institutions ...

CSL Group set to acquire 50% of Eureka Shipping Ltd

16 May 2019, Published under Cement News

SMT Shipping (SMT) and The CSL Group (CSL) have entered into an agreement for CSL to acquire 50 per cent of Eureka Shipping Ltd, SMT's pneumatic cement vessel business. The new joint venture will allow Eureka and CSL to combine expertise, resources and innovative technologies to expand services to customers in the seaborne cement powder and fly ash transportation markets around the world, according to a press release. CSL's Australian cement shipping business is not included in the joint ...

HeidelbergCement makes further progress with portfolio optimisation

09 April 2019, Published under Cement News

HeidelbergCement’s subsidiary Italcementi has signed contracts with Buzzi Unicem and Colacem regarding the disposals of cement plants in the northern and central region of Italy. The involved parties agreed not to disclose details of the transactions for the time being.  “These divestments are part of our action plan to accelerate our portfolio optimisation,” said Dr Scheifele, chairman of the Managing Board of HeidelbergCement. “We are well on our way to reach our target of EUR1.5bn of d...

Simba Cement set to acquire Kenyan cement company

22 March 2019, Published under Cement News

Simba Cement, a subsidiary of Devki Group, has received approval from the Competition Authority of Kenya for the 100 per cent acquisition of West Pokot-based Cemtech Ltd, according to Business Daily Africa. "We are still negotiating with Cemtech and we hope to close the deal soon. We are eager to venture into West Pokot to change its perception and the lives of its people for the better," said Narendra Raval, founder and chairman of Devki Group. The merged entity is expected to have a ...

Cemex to sell white cement plant to Çimsa

21 March 2019, Published under Cement News

Cemex has announced that it has reached a binding agreement with Çimsa Çimento to divest its white cement business, including its Buñol plant in Spain, for approximately US$180m. The final agreement is expected to be signed in April 2019, with the closure of the sale forecast for 2H19. The divestment does not include the company's white cement business in Mexico or the investment in USA-based Lehigh Cement. The deal is part of Cemex's ongoing restructure, with the potential proceeds to be m...

LafargeHolcim acquires Colorado River Concrete

13 March 2019, Published under Cement News

LafargeHolcim has completed its second US acquisition of 2019, adding Texas-based Colorado River Concrete to its list of ready-mix producers. The company serves customers in the southwestern Dallas/Fort Worth area and parts of west Texas. The new deal follows the acquisition of Transit Mix Concrete Co on 1 February this year.

International Cement set to acquire Schwenk Namibia

11 March 2019, Published under Cement News

Singapore’s International Cement Group has entered into a conditional agreement to acquire a 100 per cent stake in Schwenk Namibia Pty Ltd for SGD141.89m (US$104.4m). This amount comprises of US$19.3m for its shares and another US$85.1m for the purchase of its loans, according to the Straits Times. Amongst its assets Schwenk Namibia owns a 69.8 per cent stake in Ohorongo Cement, which operates a 1Mta facility in north Otavi. International Cement noted that instead of building a new plant...