Cement News tagged under: Mergers and Acquisitions
US Concrete continues expansion in New York Metropolitan area01 March 2016, Published under Cement NewsUS Concrete, Inc announced yesterday that it has acquired the assets of Greco Brothers Concrete of LI, Inc (Greco), a ready-mixed concrete producer located in Brooklyn, NY. Greco currently operates two ready-mixed concrete plants and a fleet of 37 mixer trucks. The assets of Greco will be integrated into US Concrete’s existing New York operation, Ferrara Bros, LLC (Ferrara Bros). Greco has an established and respected market presence in the New York metropolitan area with approximately 60 ... |
Reliance Infrastructure to sell cement arm to Birla Corp05 February 2016, Published under Cement NewsReliance 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 India04 February 2016, Published under Cement NewsLafargeHolcim 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 assets01 February 2016, Published under Cement NewsBirla 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 business27 January 2016, Published under Cement NewsJaypee 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 deal25 January 2016, Published under Cement NewsSberbank 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 Indonesia20 January 2016, Published under Cement NewsHolcim 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 Cements19 January 2016, Published under Cement NewsSagar 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 certificates15 January 2016, Published under Cement NewsHeidelbergCement 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 NewsCorporate 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... |