Cement News tagged under: Mergers and Acquisitions
Future LH Executive Committee finalised27 May 2015, Published under Cement NewsLafarge 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 UltraTech21 May 2015, Published under Cement NewsJaypee 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 functions20 May 2015, Published under Cement NewsLafarge 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 UltraTech19 May 2015, Published under Cement NewsJaiprakash 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 assets15 May 2015, Published under Cement NewsPhilippine 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 Argos14 May 2015, Published under Cement NewsPutney 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 offer12 May 2015, Published under Cement NewsHolcim 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 merger11 May 2015, Published under Cement NewsLafarge 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 Cement07 May 2015, Published under Cement NewsChina 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 Cimentos06 May 2015, Published under Cement NewsSemapa 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 ... |