Cement News tagged under: Mergers and Acquisitions

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India: Orient and JP deal reportedly in final stages

05 April 2017, Published under Cement News

Orient Cement's plan to acquire certain assets of the Jaypee Group is in the final stages and completion of the deal could be announced shortly, according to local media. Citing sources familiar with the development, 'Moneycontrol' reported today that management of both Orient and the Jaypee Group are due to meet this week to discuss last-minute details of the deal. In October 2016, the two companies announced that Orient Cement Would acquire Jaiprakash Associates’ entire stake in Bhil...

EU reportedly set to block HeidelbergCement, Schwenk's Cemex Croatia deal

29 March 2017, Published under Cement News

EU antitrust regulators are set to block HeidelbergCement and Schwenk's joint bid for Cemex's Croatian unit barring a last minute change of mind, Reuters reports. The European Commission, which opened an investigation into the deal in October last year, has not been convinced so far by the companies' offer to lease a terminal on the Dalmatian coast to a rival to address its concerns, the news agency reported citing two source familiar with the matter. The EU competition authority has said ...

South Korea: preferred bidders named in US$567m Hyundai deal

17 February 2017, Published under Cement News

Hanil Cement Company and LK Investment Partners have been named as the preferred bidders to acquire Hyundai Cement, reports South Korea's Pulse. The two firms submitted a bid of KRW650bn (US$567m) for an 84.56 per cent stake in Hyundai. The acquisition would make Hanil Cement the largest producer in South Korea, with a market share of more than 30 per cent. The bid values Hyundai at nearly 60 per more than its current market capitalisation of KRW486bn. A final deal is expected to be si...

PCC and AfriSam in merger talks

13 February 2017, Published under Cement News

PPC is in merger talks with its nearest competitor, AfriSam Group, seeking to overcome valuation disagreements that prevented the completion of previous tie-up efforts, according to Reuters. AfriSam first proposed the merger in 2014, when infighting between the PPC board and its former CEO has put downward pressure on PPC’s share price. However, shares in PPC have performed significantly better, increasing by a third this year to date. The cement producer is valued at about ZAR11bn (US...

India: JSW Cement takes 37% stake in Shiva Cement

12 January 2017, Published under Cement News

JSW Cement has bought out the promoters of Odisha-based Shiva Cement, acquiring 37.15 per cent of the latter’s equity, the Economic Times reports. "The share purchase agreement has been executed with JSW Cement Ltd, for sale of shares held by the promoters of the company," Shiva Cement said in a stock exchange filing. JSW has also made an open offer to acquire a further 32 per cent of publicly held shares in Shiva – a majority stake. Shree Cement had also been in the running to acqu...

USA: FTC approves HeidelbergCement divestiture

16 November 2016, Published under Cement News

The US Federal Trade Commission (FTC) has given its approval to an application from HeidelbergCement and Italcementi for the divestiture of the Essroc Martinsburg cement plant in West Virginia and eight cement terminals, local newspaper the Morning Call reports. The plant and terminals are to be acquired by Cementos Argos for US$660m. The divestiture was required by the FTC to preserve competition in the face of the merger of HeidelbergCement and Italcementi. The deal was originally ag...

Vietnam: multiple mergers and acquisitions

05 September 2016, Published under Cement News

Siam City Cement (SCCC) is set to purchase 65 per cent of the stakes in LafargeHolcim Vietnam in a deal valued at US$524m. The acquisition is due to be completed in the 4Q once all administrative procedures are completed. This is not the first Thai purchase of Vietnamese cement operations. In 2012 SCG Cement bought Buu Long cement plant in the Dong Nai province. SCG has been developing multiple projects in the country, purchasing stakes in a range of building materials manufacturers,such ...

US: HeidelbergCement moves closer to acquiring Essroc

17 August 2016, Published under Cement News

HeidelbergCement AG and its Italian rival Italcementi SpA, the owner of Nazaerth-area Essroc operations have agreed to divest certain assets to settle the Federal Trade Commission's charge that the proposed US$4.2bn merger would likely harm US competition. The deal is not expected to affect area cement-making operations, officials from both companies said to The Morning Call on Tuesday. HeidelbergCement owns Lehigh Hanson Inc, which is based in Irving, Texas, while Italcementi owns Essroc ...

Titan Cement takes US$100m stake in Brazil's Cimento Apodi

04 August 2016, Published under Cement News

Greece's Titan Cement Group has announced that it is to take a 50 per cent equity stake in Companhia Industrial de Cimento Apodi of Brazil. The deal will see Titan invest an estimated US$100m to become joint owner of the company alongside Brazilian conglomerate the Dias Branco Group. Both organisations will acquire a 50 per cent interest in the cement producer. Cimento Apodi is based in the state of Ceará in northeastern Brazil and operates a grinding plant in Pecém and a new integrate...

LafargeHolcim announce further Chinese sales

04 August 2016, Published under Cement News

LafargeHolcim has, for the second time in a week, announced that it is to sell some of its Chinese assets. Reuters reports that the company is to sell 13 integrated plants and four grinding stations for CHF208m (US$215m). The assets – currently operated by Lafarge China Cement – are to be purchased by Huaxin Cement, in which LafargeHolcim itself has a 41.8 per cent shareholding. Commenting on the sale, LafargeHolcim CEO Eric Olsen said: "Following our announcement earlier this week to ...