Cement News tagged under: Mergers and Acquisitions

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Lafarge and Holcim reorganise group functions

20 May 2015, Published under Cement News

Lafarge and Holcim are each preparing the reorganisation of group functions in the context of their proposed merger. Holcim’s proposed new organisation would result in a net reduction of approximately 120 jobs in Holcim Group functions in Switzerland. The social consultation process to reduce the impact on roles that are affected by reductions will now be launched with the employee representatives (AV) in Switzerland, the company said in a statement today. Concerning Lafarge at worldwide...

Jaiprakash gets shareholder go-ahead to sell to units to UltraTech

19 May 2015, Published under Cement News

Jaiprakash Associates Ltd has received shareholder approval to sell two cement units in Madhya Pradesh to UltraTech Cement Ltd, the company said in a notice to the stock exchanges. In December, Jaiprakash Associates signed a deal with UltraTech Cement to sell its cement units in the central Indian state for INR54bn. The board of directors of UltraTech Cement and the Competition Commission of India have also approved the deal.

Aboitiz plans to buy Lafarge Philippines assets

15 May 2015, Published under Cement News

Philippine conglomerate Aboitiz Equity Ventures Inc said on Friday it had signed an agreement for a possible acquisition of Lafarge's local cement operations in partnership with CRH Plc. CRH had earlier agreed to buy for EUR6.5bn cement assets from Lafarge and Holcim Ltd., whose asset divestments are part of preconditions to winning regulatory approval for their merger. Both Lafarge and Holcim have cement assets in the Philippines. Aboitiz, which has investments in power generation and ban...

Putney Capital Management announces acquisition in partnership with Argos

14 May 2015, Published under Cement News

Putney Capital Management LLC announced the acquisition of one of the main terminals for the reception, storage and distribution of cement in Puerto Rico.  This strategic investment was made in partnership with Colombia's Cementos Argos (Argos), the fifth largest producer of cement in Latin America, and the second largest in the southeast of the United States with operations in Colombia, Central America, the US and the Caribbean.  The terminal, acquired for total consideration of approx. US$...

Holcim files Lafarge stock exchange offer

12 May 2015, Published under Cement News

Holcim Ltd said on Monday it has filed with the French financial market regulator details of its proposed share exchange with Lafarge. The offer allows Lafarge shareholders to exchange all shares in the Paris-based company for newly created shares in Holcim. The exchange ratio is 10 Lafarge shares for nine shares in Holcim. Two thirds of Lafarge's 293 million shares have to be offered up by shareholders for the deal to go ahead. The offer is due to open on 1 June and run until 3 July...

Holcim shareholders back all motions for proposed merger

11 May 2015, Published under Cement News

Lafarge and Holcim have today successfully secured support from Holcim shareholders for their proposed merger and completed one of the final key steps on their way to creating a global building materials giant. Representing around 72 per cent of the company’s share capital, the 738 shareholders attending the Extraordinary General Meeting of Holcim Ltd approved all motions proposed by the Board of Directors. Wolfgang Reitzle, currently Chairman of Holcim and future Co-Chairman (statutory Cha...

China Tianrui increases stake in China Shanshui Cement

07 May 2015, Published under Cement News

China Tianrui Group Cement last month increased its stake in China Shanshui Cement to 28.16 per cent, more than Shanshui founder Zhang Caikui. Fitch Ratings deemed the move a change of control. It also downgraded Shanshui to BB-, three levels below investment grade, citing weak cement prices. "The Chinese authorities' approach to the sector is clear - they want consolidation," said Kalai Pillay, a senior director at Fitch Ratings in Singapore. In the case of Tianrui's part acquisition of...

Semapa acquires 50% stake in Supremo Cimentos

06 May 2015, Published under Cement News

Semapa and Secil, through its Brazilian subsidiary, entered into an agreement for the acquisition of a 50 per cent stake of the Brazilian company Supremo Cimentos. With this acquisition, the companies now indirectly hold the entire share capital of the Supreme. "Our subsidiary of Brazilian law, NSOSPE Empreendimentos e Participações, owned jointly by Semapa and Secil - Companhia Geral de Cal and Cement entered into an agreement for the acquisition of the 50 per cent of the share capital of ...

South Africa: PIC increases stake in PPC

06 May 2015, Published under Cement News

The Public Investment Corporation (PIC) had increased its investment in PPC to 15.165 per cent, the South African cement producer yesterday. The PIC confirmed in December when the AfriSam Group made a non-binding proposal of a merger with PPC that the corporation held 12.57 per cent of PPC and 66 per cent of AfriSam. Talks between the two cement producers were halted in March when they were unable to reach consensus on the terms of the proposed merger.

Buzzi Unicem's bid for Sacci expires

05 May 2015, Published under Cement News

Buzzi Unicem’s offer to buy Sacci SpA has expired after being rejected by the banks and creditors and the bidder is no longer bound to any commitment, the Italian cement major announced. “We inform that the population of the banks and creditors that take part in the debt restructuring agreement pursuant to article 182-bis of the Bankruptcy Law did not endorse the proposal by Buzzi Unicem. The offer has expired today and as such Buzzi Unicem is released from any subsequent commitment,” Buzzi...