Cement News tagged under: Mergers and Acquisitions

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Camargo Correa reportedly looking to sell stake in InterCement

10 June 2015, Published under Cement News

Camargo Correa is looking to sell a stake in cement maker InterCement for up to BRL3.6bn (US$1.2bn) to make new overseas investments, according to a report in Brazilian daily newspaper Folha de S Paulo. Camargo Correa is looking to sell between 10-18 per cent of InterCement for between BRL2bn-3.6bh, the newspaper reported on Tuesda. Folha reported that Camargo Correa's hefty BRL8.2bn of debt had led the company to seek a minority partner in order to take advantage of opportunities to grow ...

Holcim launches exchange offer for Lafarge shares

01 June 2015, Published under Cement News

Holcim said Monday it has launched the public exchange offer for all the shares of Lafarge, marking the final stage of the merger of the two cement majors. Shareholders in Lafarge are being asked to offer their shares at an exchange ratio of nine Holcim shares for 10 Lafarge shares. Their acceptance of the exchange is the final stage to create a new company. Holcim shareholders have already approved the tie up. The combined LafargeHolcim group would employ approximately 115,000 people i...

Holcim and Lafarge seal binding deal with CRH

27 May 2015, Published under Cement News

Lafarge and Holcim have now entered a binding agreement with CRH regarding the sale of several assets with an enterprise value of EUR6.5bn. As announced in February 2015, the assets include operations mainly in Europe, Canada, Brazil and the Philippines (see below). The acquisition remains conditional upon successful completion of the merger of Lafarge and Holcim as well as the completion of local asset reorganisations. The acquisition is expected to complete in the second half of 2015. ...

Future LH Executive Committee finalised

27 May 2015, Published under Cement News

Lafarge and Holcim have completed the appointments for the future Executive Committee of LafargeHolcim following a recommendation by Eric Olsen, future CEO of the combined group. The future Executive Committee, under the leadership of Eric Olsen is composed of: • Finance, Thomas Aebischer, currently in charge of Finance at Holcim • Integration, Organization & Human Resources, Jean-Jacques Gauthier, currently in charge of Finance at Lafarge • Europe, Roland Köhler, currently in charge of E...

Jaiprakash reportedly in talks to sell Bhilai unit to UltraTech

21 May 2015, Published under Cement News

Jaypee Group company Jaiprakash Associates is in talks with UltraTech Cement to sell its 2.2Mta cement plant in Bhilai, Chhattisgarh state, Business Standard report suggests. The Bhilai plant is a joint venture between Jaypee Group (74 per cent stake) and public sector Steel Authority of India (26 per cent). Sources say Ultratech will pay around INR2000 crore in a deal that would lift the company's overall capacity to 67Mta. When asked to comment by Business Standard, a Jaypee Group spokes...

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...