Cement News tagged under: Mergers and Acquisitions

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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 ...

2015: year in review

24 December 2015, Published under Cement News

As the final week of 2015 approaches, we take a look back at some of the most talked-about topics of the year across the global cement arena. In terms of worldwide cement consumption trends, demand is expected to have contracted in 2015 in the low-single digit range, marking the first reduction since 1990. Excluding China, which accounts for over 70 per cent of global consumption, demand is anticipated to have risen by 2.1 per cent, according to forecasts by HSBC soon to be presented in th...

Shanshui subsidiary alleges Tianrui takeover of unit was illegal

08 December 2015, Published under Cement News

Tianrui Group's move to take full control over a unit of Shanshui Cement is facing challenges, Dow Jones reported. Shandong Shanshui Cement Group said in a statement on 'Chinamoney' that Shanshui Cement board's removal of management and directors from Shandong Shanshui was illegal as this required government approval. Chinamoney is an official site affiliated with the central bank, and is used by companies to post announcements about bonds. Tianrui, the largest shareholder of Shanshui Cem...

Cyprus: change in VCW ownership structure

08 December 2015, Published under Cement News

The Archbishopric of Cyprus purchased 12.84m shares of Vassiliko Cement Works (VCW) from the Hellenic Mining public company at EUR1.20/share. The total value of shares bought adds up to EUR15.4m.
 The transaction resulted in a change over the voting rights of the participating companies. Hellenic Mining voting rights in Vassiliko Cements, a subsidiary of the Cyprus Cement Public Company (CCPC), were reduced down to zero from 17.85 per cent whereas the Archbishopric of Cyprus increased its v...

Anhui Conch to double West China Cement stake

30 November 2015, Published under Cement News

Anhui Conch Cement Co has agreed to more than double its stake in West China Cement Ltd for HK$4.59bn (US$592m). Conch International Holdings (HK), a wholly owned unit of Anhui Conch, plans to increase its holding in Shaanxi-based West China from 21.17 per cent to to 51.57 per cent, the companies said in a filing to the Hong Kong exchange Friday. If the transaction goes through, Anhui Conch will have to make a mandatory cash offer for all shares of West China it doesn’t own, the filing show...

JSW and JK Lakshmi reportedly among shortlist for Reliance cement assets

26 November 2015, Published under Cement News

JSW Cement Ltd and JK Lakshmi Cement Ltd are among seven bidders shortlisted for Reliance Infrastructure Ltd’s 5.5Mta cement assets, an official directly involved in the deal has disclosed to local press. On 5 November Reliance said it had shortlisted seven potential buyers who submitted preliminary expressions of interest to buy its cement business. JSW Cement, JK Lakshmi Cement and a few private equity firms are among the seven shortlisted bidders, the official cited above said...