Cement News tagged under: Mergers and Acquisitions
Fletcher Building to sell Rocla Quarry Products business to Hanson19 August 2015, Published under Cement NewsFletcher Building Ltd has entered into a conditional agreement to sell the operations of Rocla Quarry Products (RQP) to Hanson Construction Materials in a transaction valued at approximately AUD203m (US$149m). Fletcher Building will continue to own and operate RQP until completion of the transaction, which is expected to be by the end of January 2016. The transaction is conditional upon a number of matters, including clearance from Australian Competition and Consumer Commission. Upon com... |
Fosroc reaches agreement to acquire majority shareholding in Idea Kimya, Turkey18 August 2015, Published under Cement NewsFosroc, the international construction chemicals group, said it has reached an agreement to acquire a "substantial majority shareholding" in Turkish cement additives company Idea Kimya, subject to regulatory approval. Commenting on the deal, Dr Andre Ladurelli, CEO of Fosroc, said: “Our strategy is to continue achieving double-digit organic growth in existing businesses and enter new territories through the formation of new ventures as well as through acquisitions. The acquisition of Ide... |
Cemex announces divestment of operations in Austria, Hungary and Croatia12 August 2015, Published under Cement NewsCemex 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 business06 August 2015, Published under Cement NewsTaiheiyo Cement Corp announced Tuesday that its California subsidiary CalPortland Co (CPC) will buy Martin Marietta Materials Inc's cement business in California for US$420m. Major assets included in the deal are the Oro Grande cement plant (situated near the major market of Los Angeles) and the Stockton and San Diego cement terminals. "This asset purchase from Martin Marietta will allow CPC to replace the cement production capacity lost by the discontinuation of cement production ... |
LafargeHolcim Ltd to launch squeeze-out for remaining Lafarge SA shares04 August 2015, Published under Cement NewsLafargeHolcim Ltd announces that it has decided to initiate a squeeze-out process for all issued and outstanding shares of Lafarge SA. After surpassing the necessary 95 per cent threshold in share capital and voting rights and following a decision by the Board of Directors, LafargeHolcim Ltd plans to request the AMF to implement a squeeze-out procedure pursuant to their general regulations for Lafarge SA shares not tendered to the Public Exchange Offer. LafargeHolcim Ltd will publish f... |
DBN ups stake in Ohorongo Cement, Namibia04 August 2015, Published under Cement NewsThe Development Bank of Namibia has increased its stake in Ohorongo Cement, which is majority-owned by Schwenk Zement KG of Germany from 10 to 11.72 per cent. "The bank's decision to increase its shareholding in Ohorongo Cement is firstly driven by its equity investment strategy to take up shareholding in business projects and secondly its desire to invest in quality assets with potential to earn profits to finance future development," chairperson of the bank, Penny Akwenye, said. The US$... |
CRH completes Lafarge-Holcim transaction03 August 2015, Published under Cement NewsCRH 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 Offer03 August 2015, Published under Cement NewsFrance'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 Italcementi29 July 2015, Published under Cement NewsEleven 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 bid22 July 2015, Published under Cement NewsChina 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... |