Cement News tagged under: Mergers and Acquisitions

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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 ...

India: UltraTech to complete Jaypee acquisition ‘in next 12 months’

20 July 2016, Published under Cement News

Birla Group chairman, Kumar Mangalam Birla, told his firm's annual general meeting that its UltraTech Cement subsidiary should complete its acquisition of Jaypee Cement within the next 12 months, the Economic Times reports. The deal, which will see UltraTech acquire cement production capacity of 21.2Mta, was agreed earlier this month, despite efforts from Jaypee’s creditors that saw them convert debt into equity. On completion, UltraTech – already India’s largest producer – will contro...

Conch offer shows price just one factor in Lafarge deal

14 July 2016, Published under Cement News

China’s Anhui Conch lost out in the race to acquire Lafarge India despite the fact that its offer of INR95bn (US$1.4bn) was higher than the INR94bn bid submitted by Nirma Group, the eventual winners. In an article published today, Mint examines some possibilities behind Anhui’s failure. The paper dismisses suggestions that the Competition Commission of India intervened directly to block its bid but does lend support to the idea that Lafarge was happier to reach agreement with a domestic f...

India: Nirma to acquire Lafarge India for US$1.4bn

11 July 2016, Published under Cement News

LafargeHolcim has announced that it has reached agreement with Nirma Group for the sale of Lafarge India. The deal - valued at US$1.4bn - will see Nirma acquire assets that include 11Mta of grinding capacity and several limestone quarries. Nirma has won out against four other bidders: China’s Anhui Conch, Mexican firm Cemex, and domestic firms JSW Cement and Piramal Group. The Competition Commission of India still needs to approve the move, but given Nirma’s small existing presence in the...

India: Birla eyes September completion of Reliance acquisition

11 July 2016, Published under Cement News

Birla Corporation has said that it expects to complete its acquisition of Reliance Cement by September, Gulf Today reports. The US$711m deal was initially struck in February 2016 and will raise Birla’s cement capacity from 10Mta to 15.5Mta, as well as securing access to mineral concessions. A group of Birla shareholders took the company to court in an effort to block the deal, but this was rejected by the Kolkata High Court in May. Birla Corporation chairman Harsh V Lodha said: “The ac...

China: BBMG sells stakes to Jidong Cement

30 June 2016, Published under Cement News

Chinese building materials supplier, BBMG Corp has plans to sell its stakes in 31 cement-related companies to Jidong Cement. The stakes on offer are valued at CNY15.5bn (US$2.3bn). Tangshan Jidong Cement Co Ltd will eventually become a part of BBMG as part of an overall company restructuring. This move comes as the Chinese government tries to get rid of smaller or inefficient players in sectors such as glass, steel and cement. In May 2016 the government stated that it intends would give c...

China: West China Cement to agree to Anhui Conch ownership

24 May 2016, Published under Cement News

Yesterday, shares in West China Cement rose nearly six per cent on news that a sufficient majority of option-holders had agreed to an acquisition by largest listed Chinese peer, Anhui Conch Cement, reports the Australian Financial Review. The deal should have the government's blessing as further consolidation is needed in the sector. Last week, the State Council reiterated its desire for a more concentrated industry. It wants the top 10 players to control three-fifths of capacity by 2020. ...