Cement News tagged under: Mergers and Acquisitions

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Reliance Infrastructure to sell cement arm to Birla Corp

05 February 2016, Published under Cement News

Reliance Infrastructure (RInfra) has signed a share purchase agreement with Birla Corp to sell 100 per cent in Reliance Cement Company (RCCPL). The deal values cement business of RInfra at INR48bn. Under the transaction, Birla Corporation will acquire the 100 per cent shareholding of RInfra in RCCPL. The deal is still subject to approval by the Competition Commission of India, among others. Reliance announced back in November that it would be divesting of its cement and roads segmen...

LafargeHolcim considering revised divestment plan in India

04 February 2016, Published under Cement News

LafargeHolcim confirmed today that it is considering a divestment of its interest in Lafarge India with a cement capacity of around 11Mta. The divestment would require the approval of the Competition Commission of India (CCI) as an alternative remedy for the merger of the group’s legacy companies. The company said  in a statement that it is no longer in discussion with Birla Corporation Limited (BCL) for the sale of the Jojobera and Sonadih cement plants in eastern India announced last yea...

India: Birla Corp reportedly front-runner for Reliance assets

01 February 2016, Published under Cement News

Birla Corp Ltd is set to buy the cement assets of Reliance Infrastructure Ltd with the deal set to be sealed within the next few days, according to local media reports. “It will be signed formally in the coming days,” said one of the two people cited above. “Even though discussions took nearly a month’s time to finalise, other contenders weren’t really considered for the sale,” LiveMint reported sources familiar with the matter as saying. Birla Corp’s bid for Reliance Cement Co Pvt Ltd’s a...

Jaiprakash reportedly receives four bids for cement business

27 January 2016, Published under Cement News

Jaypee group-promoted Jaiprakash Associates has received four bids for the 20Mta of cement capacity that it has put up for sale to reduce its debt burden. A report in the Business Standard of India said the bidders include global private equity firm KKR, and domestic players UltraTech and Dalmia Bharat Cement. Units reported to be up for sale included the 2.2Mta Bhilai cement plant joint venture between Jaiprakash Associates (74 per cent) and Steel Authority of India Ltd (24 per cent) – ...

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...