Cement News tagged under: Mergers and Acquisitions

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Russian Sberbank gets 6% of LH from Eurocement in repurchase deal

25 January 2016, Published under Cement News

Sberbank CIB, the investment banking arm of Russian lender Sberbank, announced on Friday it now holds six per cent of LafargeHolcim following a repurchase deal with Russian Eurocement Holding. Under the terms of the agreement, the investment arm had organised financing for Eurocement Holding AG in return for 37m shares in LafargeHolcim. Eurocement has the right to buy back the shares at a specific price and on a certain date. The agreement was implemented on 21 January, the statement sa...

Holcim Indonesia completes acquisition of Lafarge Cement Indonesia

20 January 2016, Published under Cement News

Holcim Indonesia Tbk has acquired Lafarge Cement Indonesia, following the merger of the two parent companies. The company has signed a conditional purchase agreement with respect to the purchase of all the shares owned by Financière Lafarge SA of Lafarge Cement Indonesia on 29 December 2015. Closing of the transaction is dependent on the fulfillment of several conditions, including approval by relevant authorities. The company received funds from Holderfin BV – SMCB's controlling...

Sagar reportedly in talks to buy Jaypee's Andhra Cements

19 January 2016, Published under Cement News

Sagar Cements is in advanced talks to acquire Andhra Cements from the Jaypee Group, the Economic Times (ET) of India has learnt from two sources. JSW Cement is another potential contender, according to the sources. Andhra Cements has two plants in the southeastern Indian state of Andhra Pradesh with a combined capacity of 2.6Mta. It also has a 25MW captive power plant under construction. The sources said that Sagar Cements will make an open offer to the minority shareholders of Andhra Cem...

HeidelbergCement issues EUR625m of debt certificates

15 January 2016, Published under Cement News

HeidelbergCement has successfully issued debt certificates in the amount of EUR625m, thereby further strengthening its financing structure. Due to high demand, it was possible to significantly increase the issue volume from initially EUR400mto EUR625m, the German building materials major highlighted. The newly-issued debt certificates, with a maturity date of 20 January 2022, consist of two tranches: one tranche with a floating rate and the other with a fixed rate. The fixed rate tranche yi...

India: consolidation and market growth on the rise?

08 January 2016, Published under Cement News

Corporate consolidation in the Indian cement industry has been hitting the headlines recently, with local press reporting on potential deals in the pipeline. Meanwhile, with construction activity showing greenshoots, a revival in cement demand could be ahead. Consolidation has been on the rise in India and most recently local press have reported that Jaypee Group is said to be looking to offload the remainder of its cement business to retire a part of its ~INR612.85m (US$9.18m) debt held i...

Lafarge may need to divest of more Indian assets due to mining regulations

06 January 2016, Published under Cement News

Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11Mta of assets in India, Business Standard reports, citing an investment banker familiar with the development. This decision comes after Lafarge's plan to sell its 5.15Mta cement capacity in Chhattisgarh and Jharkhand to Birla Corp has hit a hurdle due to mining regulations. Investment bankers said the MP Birla Group company was facing challenges in securing limestone mining righ...

Cimpor sells a minority stake in Paraguay producer

31 December 2015, Published under Cement News

Cimpor has sold a 16 per cent stake in Ygauazu Cementos of Paraguay for a total of EUR32m, the company announced in a statement. The sale reflects a 14x EBITDA multiple. Cimpor retains a controlling stake with a 51 per cent participation, with the remaining share capital to be held by already existing Paraguayan partner Concret Mix. The sale of the minority stake is among many of the self-help measures being undertaken by Cimpor to strengthen its capital structure and increase profitabili...

Hahn & Company to buy Ssangyong Cement

30 December 2015, Published under Cement News

Hahn & Co, Korea’s leading private equity group, has been selected as the preferred bidder for a 46.14 per cent stake in Ssangyong Cement. Hahn & Company already owns part of the company's stake so its actual target will be 36.8 percent. Ssangyong Cement was put on sale in October 2015. Hahn & Company and Hanil Cement were the strongest contenders, but the private equity fund was known to outbid the competition in the final round. The market value for the stake plus management rights is est...

Cementir outbids Buzzi to buy Sacci

30 December 2015, Published under Cement News

Shares of Italian cement group Buzzi Unicem fell after Cementir outbid its offer for the cement and ready-mix concrete business units of the Italian group Sacci SpA. Sacci has decided to include the EUR125m offer from Cementir Italia in the Sacci creditor protection plan, replacing a previous offer from Buzzi Unicem. Buzzi Unicem’s offer to purchase Sacci SpA had originally been made in March 2015 and had been approved by Italy’s Antitrust Authority in December.

Jaypee Group’s cement assets up for grabs

29 December 2015, Published under Cement News

Jaypee Group is planning for an outright sale of its 20Mt portfolio of cement assets worth an estimated INR190 (US$2.86bn) enterprise valuation. UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement have each been approached to take over Jaypee Group’s cement business. Other private equity firms are also reported to have been approached with a detailed information memorandum of operations. Jaypee Group, one of the top ten most indebted Indian conglomerates with a ...