Cement News tagged under: Mergers and Acquisitions

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Sharcem set to acquire plant from Kazakhcement

14 April 2021, Published under Cement News

Singapore-based International Cement Group (ICG) has incorporated a new subsidiary in Kazakhstan. Sharcem will be 60 per cent owned by the group’s direct subsidiary, International Cement Shar Pte, and 40 per cent owned by Nurzhan Shakirov. Sharcem has subsequently entered into a sale and purchase agreement (SPA) with Kazakhcement and the Development Bank of Kazakhstan for the sale of a cement plant and related assets in the country. The total consideration of the agreement is KZT7.07bn (US$...

Cargo Handlers acquires 30% stake in Jamaican cement importer

21 December 2020, Published under Cement News

Cargo Handlers Ltd has acquired a 30 per cent stake in Buying House Cement Ltd, a cement importer based in Montego Bay that mostly supplies western Jamaica. Dominican Republic-based Domicem will continue to own 70 per cent of Buying House. According to CHL Chairman Mark Hart, the cement importer holds about 10 per cent of the local cement market that is dominated by Caribbean Cement Co.  Mr Hart said the deal for the Buying House stake was recently completed and will take effect on 1 Jan...

Breedon's asset disposal to complete shortly

01 December 2020, Published under Cement News

The UK’s Competition and Markets Authority (CMA) has now accepted Breedon Group’s undertakings to dispose of certain assets to Tillicoultry Quarries. The company made the move to address the CMA’s concerns that its purchase of certain assets from Cemex UK may lessen competition in certain areas. In a statement to the London Stock Exchange, Breedon confirmed that it now expects the disposal of assets to Tillicoultry Quarries to complete shortly.

Holcim Philippines to streamline corporate structure

24 November 2020, Published under Cement News

The board of Holcim Philippines Inc (HPI) has approved the merger of three majority-owned subsidiaries (Bulkcem Philippines Inc, Mabini Grinding Mill Corp and Holcim Philippines Manufacturing Corp) into the company to streamline corporate structure. The company is now expected to hold a special stockholders’ meeting on 15 January 2021 for the approval of the transaction. Bulkcem Philippines currently leases its Iloilo bulk terminal to HPI, while Mabini Grinding Mill Corp leases its gri...

Sabanci to restructure white cement business

01 October 2020, Published under Cement News

Turkey's Sabanci Holding has announced that it will be restructuring its white cement business unit by merging its financial power and the operational capability of its Çimsa subsidiary, according to a statement. As such, it is planning to incorporate a company in the Netherlands, Cimsa Sabanci Cement BV (CSC BV), in which Sabancı will hold 60 per cent of the total equity shares while the remaining 40 per cent will be held by Çimsa. It will then sell the shares of Çimsa's international wh...

Suez Cement expected to increase stake in Tourah Portland

30 September 2020, Published under Cement News

Egypt’s Suez Cement is expected to submit a tender offer to acquire up to 100 per cent of the issued capital of Tourah Portland Cement for EGP7.18 (US$0.45) per share, according to a disclosure to the Egyptian Exchange (EGX). Suez Cement already owns 66.12 per cent of Tourah. Upon the execution of the offer, the latter is expected to voluntary delist its shares from the EGX. HeidelbergCement is also proposing to launch a tender offer to increase its 55.08 per cent stake in Suez Cement t...

Asia Cement to purchase additional stake in Chiahui Power

11 September 2020, Published under Cement News

Japan-based Electric Power Development Co, also known as J-Power, is planning to sell its entire stake in  Chiahui Power to Taiwan’s Asia Cement for TWD5.37bn (US$183m). The share sale is subject to the approval of Taiwan’s authorities. Asia Cement, by purchasing the 39.97 per cent share, will raise its stake in Chiahui Power to 99.7 per cent. J-Power initially acquired the Chiahui Power shares from Asia Cement in 2002 and invested around JPY8bn (US$7m) into the firm, making it its lar...

Loma Negra sells majority stake in Yguazú Cementos

27 August 2020, Published under Cement News

Argentina-based Loma Negra (Intercement) has sold its 51 per cent majority stake in Paraguay’s Yguazú Cementos. The value of the deal was not announced, but the company had been valued at US$80m. The buyer was a local shareholder company ConcretMix (owned by Grupo Bogarín), according to a note sent to Argentina’s National Securities Commission. Loma Negra is expected to use the funds from the transaction to pay its debt with local banks. In 2000 Intercement founded Yguazú Cementos in partn...

Imerys set to acquire 60% stake in refractory supplier

19 August 2020, Published under Cement News

France-based Imerys has signed an agreement for the acquisition of a 60 per cent stake in Turkey’s Haznedar Group, a high-grade monolithic refractories and refractory brick manufacturer. The industrial minerals company will also have the option to purchase the remainder of Haznedar. "With this deal, Imerys will complement its current offer with basic and acidic refractory bricks and extend its industrial footprint with a competitive production base in Turkey, strategically located between...

Ohorongo Cement sale blocked by competition commission

05 August 2020, Published under Cement News

The Namibian Competition Commission has reportedly blocked the NAD1.5bn (US$86.67m) sale of Schwenk Namibia, which manages and owns 69.8 per cent of Ohorongo Cement, to West China Cement, according to The Namibian. "The Namibian Competition Commission [has] made a decision to prohibit the acquisition of Schwenk Namibia (Pty) Ltd by West China Ltd due to the fact that it would result in coordination between Ohorongo Cement (Pty) Ltd and Whale Rock Cement," said notes on the decision. The ...