Cement News tagged under: Mergers and Acquisitions

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Cemex announces divestment of operations in Austria, Hungary and Croatia

12 August 2015, Published under Cement News

Cemex announced today that it has signed an agreement for the sale of its operations in Austria and Hungary to the Rohrdorfer Group for approximately EUR160.1m. The Austrian operations consist of 24 aggregate quarries (approximately 6.47Mt of aggregates sold in 2014) and 34 ready-mix plants (approximately 1.60Mm 3 of ready-mix sold in 2014). Cemex’s operations in Austria had net sales of approximately US$241m in 2014. The Hungarian operations being divested consist of five aggregate qua...

CalPortland Co to buy Martin Marietta's California cement business

06 August 2015, Published under Cement News

Taiheiyo Cement Corp announced Tuesday that its California subsidiary CalPortland Co (CPC) will buy Martin Marietta Materials Inc's cement business in California for US$420m. Major assets included in the deal are the Oro Grande cement plant (situated near the major market of Los Angeles) and the Stockton and San Diego cement terminals. "This asset purchase from Martin Marietta will allow CPC to replace the cement production capacity lost by the discontinuation of cement production ...

LafargeHolcim Ltd to launch squeeze-out for remaining Lafarge SA shares

04 August 2015, Published under Cement News

LafargeHolcim Ltd announces that it has decided to initiate a squeeze-out process for all issued and outstanding shares of Lafarge SA. After surpassing the necessary 95 per cent threshold in share capital and voting rights and following a decision by the Board of Directors, LafargeHolcim Ltd plans to request the AMF to implement a squeeze-out procedure pursuant to their general regulations for Lafarge SA shares not tendered to the Public Exchange Offer. LafargeHolcim Ltd will publish f...

DBN ups stake in Ohorongo Cement, Namibia

04 August 2015, Published under Cement News

The Development Bank of Namibia has increased its stake in Ohorongo Cement, which is majority-owned by Schwenk Zement KG of Germany from 10 to 11.72 per cent. "The bank's decision to increase its shareholding in Ohorongo Cement is firstly driven by its equity investment strategy to take up shareholding in business projects and secondly its desire to invest in quality assets with potential to earn profits to finance future development,"  chairperson of the bank, Penny Akwenye, said. The US$...

CRH completes Lafarge-Holcim transaction

03 August 2015, Published under Cement News

CRH announced that the transaction to acquire certain assets from Lafarge SA and Holcim Ltd for a total enterprise value of EUR6.5bn is now complete, with the exception of the Philippines which is expected to close in the third quarter of this year. The deal was initially announced in on 2 February 2015, with a binding agreement sealed between the companies towards the end of May. Commenting on the completion of the acquisitions, Albert Manifold, CRH chief executive, said: “Today we extend...

LafargeHolcim: results of the re-opened Public Exchange Offer

03 August 2015, Published under Cement News

France's Financial Market Authority published on Friday the final results of the re-opened public exchange offer initiated by LafargeHolcim Ltd (formerly Holcim Ltd) for the shares of Lafarge SA 25,901,191 additional Lafarge S.A. shares have been tendered. Following the settlement-delivery of the re-opened offer which is expected to occur on 4 August 2015, LafargeHolcim Ltd will hold 278,131,864 Lafarge SA shares representing 96.41 per cent of the share capital and at least 95.25 per cen...

HeidelbergCement to acquire Italcementi

29 July 2015, Published under Cement News

Eleven days after the completion of the acquisition of Lafarge by Holcim to form LafargeHolcim, HeidelbergCement has agreed to acquire Italcementi, with a combined cash and share issue for the 45 per cent controlling stake held by Italmobiliare. A cash offer of EUR10.60 per share will be made by HeidelbergCement for the remaining shares in Italcementi. This represents a 70.6 per cent premium on the weighted average share price of Italcementi over the past three months. Dr Bernd Scheifele,...

China Shanshui shareholders mull takeover bid

22 July 2015, Published under Cement News

China Shanshui Cement Group Ltd said two of its largest shareholders are considering a takeover bid, Bloomberg reports. Asia Cement Corp of Taiwan and China National Building Material Co, which together own about 38 per cent of Shanshui Cement, are considering a general cash offer to acquire the shares they don’t already control, the companies said in a statement to Hong Kong’s exchange Tuesday. The proposal by Asia Cement and China National Building Material escalates the fight for contr...

Summit Materials completes acquisition of Lafarge North America assets

21 July 2015, Published under Cement News

US-based construction materials company Summit Materials, Inc has completed its previously announced acquisition of a 1.2Mst cement plant in Davenport, Iowa along with seven cement distribution terminals from Lafarge North America Inc. unit for a purchase price of US$450m in cash, plus an exchange of Summit’s Bettendorf, Iowa cement distribution terminal, the company said on Monday. The newly-acquired cement operations are a complementary fit with Summit’s existing cement plant in Hannibal,...

LafargeHolcim buys out 50% interest in Lafarge Tarmac as part of divestment process

17 July 2015, Published under Cement News

As part of the preliminary steps to implement the disposals required by the European Commission for its approval of the merger to create LafargeHolcim and as previously announced, the group today completed the acquisition of the 50 per cent share in Lafarge Tarmac held by Anglo American for GBP992m (including changes in working capital). This step is required to allow for the full divestment of Lafarge Tarmac, with the exception of the Cauldon and Cookstown plants and certain non-operationa...