Cement News tagged under: Mergers and Acquisitions

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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. ...

Republic Cement to be delisted from Philippine stock exchange

18 April 2016, Published under Cement News

The Philippine Stock Exchange has approved the delisting of cement-maker Republic Cement & Building Materials Inc., formerly Lafarge Republic Inc. (LRI), effective April 25 this year. Republic Cement, which is now 99.09 per cent owned by the consortium of conglomerates Aboitiz Equity Ventures (AEV) and British firm CRH Holdings, is exiting the local bourse after completing a voluntary tender offer to minority shareholders. Trading on shares of Republic has been suspended since September ...

HeidelbergCement to sell Italcementi's Belgian operations as part of integration plan

06 April 2016, Published under Cement News

HeidelbergCement has laid out its plans for the restructuring of Italcementi's operations following the former's moves to acquire a 45 per cent stake in the Italian firm last July. These include selling off Italcementi’s entire Belgian operations to address competition concerns. In a press release, HeidelbergCement said that the integration process will see the retention of Italcementi’s Italian operations and brand. The company adds that it expects the acquisition to be finalised by July...

Italy: strike planned over Heidelberg/Italcementi merger

04 April 2016, Published under Cement News

A strike with national demonstration has been announced for Friday, 29 April 2016 to protest about the possible job cuts for Italcementi workers over the proposed merger with HeidelbergCement Group. The strike was announced by the national coordination of RSU group meeting in Rome. Opponents claim that there is the possibility of up to 2300 jobs in Italy being at risk if the merger is completed. "It's been months but, unfortunately, we have no news from the government about what is happeni...

India: UltraTech confirms US$2.4bn purchase of Jaypee assets

01 April 2016, Published under Cement News

UltraTech Cement has reached a definitive agreement in its deal to buy 21.2Mta of production capacity from Jaiprakash Associates (JAL) at a cost of INR159bn (US$2.4bn).  India's Telegraph newspaper reports that UltratTech will acquire existing plants with a capacity of 17.2Mta as well as a 4Mta grinding unit currently under construction.  Originally, the sale was to include Jaypee’s 1.2Mta Shahabad plant, but this will now be retained by JAL, which will still have 10.6Mta of production...

India: UltraTech purchase of 22.4Mta capacity set to be announced

31 March 2016, Published under Cement News

UltraTech Cement, already India's largest cement producer, is expected to confirm its purchase of Jaiprakash Associates' cement business. A report by CNBC-TV18 states that the deal will be officially announced on 31 March. UltraTech will acquire cement plants with a capacity of 22.4Mta for INR170bn (US$2.56bn). UltraTech has been seeking to purchase assets from Jaiprakash Associates for some time. In December 2015 a deal for the Bela and Sidhi plants was suspended because a new law pre...

Russia: waiting for a thaw

29 March 2016, Published under Cement News

In the face of considerable economic headwinds, Russia’s construction industry has seen its growth decelerate as public and private investors cut back on spending. Russia’s cement demand freeze is not expected to thaw in the next few years and given recent upgrades, substantial overcapacity appears to be just around the corner. By Vitalie Iambla, PMR. A review of recent trends in Russian construction activity and the impact on the domestic cement sector In recent years the Russi...

UltraTech Cement

29 March 2016, Published under Cement News

The Indian government has agreed to amend the mines and minerals law (MMDR Act) regarding the transfer of captive mines after it impeded at least two cement industry deals in the last 12 months. The Act, passed in January 2015, does not allow the transfer of allotted rights by one company or subsidiary to another. All the limestone mines held by cement companies until the January amendment had been allotted by the government. As a result of the MMDR law, UltraTech’s planned purchase of tw...