Cement News tagged under: Mergers and Acquisitions
South Africa: PIC increases stake in PPC06 May 2015, Published under Cement NewsThe 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 expires05 May 2015, Published under Cement NewsBuzzi 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... |
Eurocement backs Holcim-Lafarge merger30 April 2015, Published under Cement NewsEurocement Holding AG, Holcim Ltd's second-largest shareholder, said it supports the Swiss cement maker's planned merger with Lafarge SA . "Having analysed all advantages and disadvantages of a possible creation of the biggest global construction materials player we think that the prospective of the development of the combined company is very positive, so we will support the merger," Eurocement said in a statement. Eurocement, which has a 10.8 per cent stake in Holcim, said it intends to k... |
Shree net profit down on weaker sales, India30 April 2015, Published under Cement NewsShree Cements on Wednesday reported a 46.39 per cent dip in standalone net profit at to INR1.198bn (US$18.8m) for the third quarter that ended on 31 March 2015 due to a decline in sales. The company had registered a net profit of INR2.225bn for the corresponding period a year ago, it said in a filing to the Bombay Stock Exchange. Total turnover of the company dropped 5.31 per cent to INR15.764bn during the quarter under review versus INR16.649bn a year earlier. The cost of raw materials w... |
Libya Holdings Group to buy out Asamer interest in LCC29 April 2015, Published under Cement NewsBenghazi-based Libya Holdings Group is to acquire Austrian majority owner Asamer in the Libyan Cement Company (LCC), according to reports in the Libyan Herald. Asamer bought into LCC when it was privatised in 2008 paying LYD200m for a 50.6 per cent share. The remaining equity was held by the Economic and Social Development Fund. Ten percent of the ESDF’s shares were supposed to be distributed to the workers. Asamer was seeking investors and strategic partners to take on its Libyan busine... |
Shree completes acquisition of Jaiprakash grinding unit, India28 April 2015, Published under Cement NewsShree Cement has completed the acquisition of a cement grinding unit of Jaiprakash Associates in Haryana state, India. “The acquisition of a 1.5Mta cement grinding unit of Jaiprakash Associates Ltd, situated at Panipat, has been consummated on April 27, 2015 for an aggregate consideration of INR358.22 crore,” Shree Cement said in a filing to the Bombay Stock Exchange yesterday. Completion of the acquisition takes Shree Cement’s capacity to 19Mta, with facilities in Rajasthan, Uttarakhand, ... |
Holcim and Lafarge receive EC approval for CRH as buyer of divestment assets27 April 2015, Published under Cement NewsThe European Commission has cleared under the EU Merger Regulation the proposed acquisition of several assets of Holcim and Lafarge by Irish building materials manufacturer CRH. The Commission concluded that the transaction would raise no competition concerns, in particular because the merged entity will continue to face sufficiently strong competition after the merger and customers will have alternative suppliers in all markets concerned. The proposed transaction concerns assets worth seve... |
UltraTech full-year net profit down 6% YoY27 April 2015, Published under Cement NewsIndia’s largest cement manufacturer UltraTech Cement reported a six per cent drop in its net profit for the year ended 31 March 2015 to INR20.15bn versus INR21.44bn in the previous year. Net sales were 13 per cent at INR22,656 crore against INR20,078 crore in the previous year. The Aditya Birla group firm noted that although there was some relief from softening coal prices, the cost of limestone and other input materials continued to remain high, putting pressure on margins. “The company... |
Jaiprakash Associates to seek shareholders' approval for divestments to UltraTech24 April 2015, Published under Cement NewsJaiprakash Associates Ltd will next month seek approval from its shareholders and creditors for the proposed sale of its cement units to UltraTech Cement. "Pursuant to an order dated March 25, 2015...the High Court of Judicature at Allahabad has directed meetings of the equity shareholders and creditors of Jaiprakash Associates to be convened on May 16...for considering the scheme of arrangement between Jaiprakash Associates and Ultratech Cement Ltd," Jaiprakash Associates said in a... |
Italcementi Group to acquire two Holcim facilities in the US23 April 2015, Published under Cement NewsEssroc, the North American subsidiary of Italcementi group company Ciments Français, has signed an agreement with Holcim to purchase the slag cement grinding facility in Camden, New Jersey, USA. As part of the transaction, Essroc will also obtain Holcim cement terminal in Everett (Massachusetts). The acquisition will be finalised pending completion of the Holcim and Lafarge merger later this year. Holcim’s staff in Camden and Everett will join Essroc, Italcementi said in a statement. The ... |