Cement News tagged under: Mergers and Acquisitions

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Vicat closes acquisition of Ciplan

22 January 2019, Published under Cement News

Vicat Group has announced the closure of its Ciplan acquisition and now holds a 64.7 per cent stake in the company. The deal was structured through a reserved capital increase of EUR295m, with the proceeds used to settle a vast majority of Ciplan’s existing debt, according to a press release. "With this acquisition, Vicat pursues its targeted external growth and geographical diversification strategy, through the incursion into a new emerging market benefitting from strong growth perspe...

Will 2019 be noted as a year for acquisitions?

21 January 2019, Published under Cement News

In the last week, HeidelbergCement has completed its divestment of its 50 per cent share in Ciment Quebec and its minority participation in Syria (Al Badia Cement via the Italcementi acquisition). The company also auctioned its Helwan plant in Egypt and divested its Ukrainian businesses, as it targeted divestments of EUR1.5bn by 2020. This is on the back of selling its stake in Lehigh White Cement in 2018. Having acquired Italcementi, HeidelbergCement has had to modify its swollen portfo...

Emami Group to demerge solar assets from cement company

20 December 2018, Published under Cement News

India’s Emami Group has received National Company Law Tribunal (NCLT) approval to demerge its solar power assets from its cement company. The assets will be consolidated under Emami Power, which will allow Emami Cement to focus solely on its core business. "Proposed demerger is being undertaken with a view to consolidate the power production business in Emami Power while allowing our company to focus on its cement manufacturing operations," stated Emami Cement in July, before approval was r...

Sagar Cements announces new investments in plant projects

06 December 2018, Published under Cement News

Sagar Cements has approved significant investment in both Satguru Cements and Jajpur Cements, which will enable the company to expand its presence in central and eastern India. "The board has approved a proposal to invest a sum of INR1.5bn (US$21.1m) in Satguru Cement Pvt Ltd (SCPL), Indore, to set-up a greenfield cement manufacturing plant of 1Mta capacity along with a waste heat recovery power plant, at a total cost of INR4.26bn. SCL will be holding 65 per cent in the equity share capit...

Unacem shareholders to discuss merger with Inversiones Andino

04 December 2018, Published under Cement News

Peru-based Unacem reported that its general meeting of shareholders will evaluate the proposal between the company and the Investment and Administration Trade Union, Inversiones Andino and Inmobilaria Pronto. The cement company explained that the main objective of the merger is to consolidate in Unacem the knowledge, strategies, experiences, specialisations, rights and other assets developed and managed by the three societies that would be absorbed. It also seeks to extinguish the contract...

Kalambaina Cement to merge with CCNN

30 November 2018, Published under Cement News

BUA Group’s Kalambaina Cement Co has announced it received shareholder approval for a merger with the Cement Company of Northern Nigeria (CCNN). Abdul Samad Rabiu, chairman of the company, has stated that the deal would involve a high technical and complex infusion of the two companies. "This deal signposts shareholder confidence in the value proposition of the CCNN-Kalambaina merger and we are certain that the new entity can compete effectively in the cement industry in Nigeria whilst main...

Austria's Leube acquires stake in Asamer

21 November 2018, Published under Cement News

Austria-based Leube cement plant has acquired a stake in Asamer, a building materials company based in the same country. The company has acquired a 24.99 per cent stake after the exit of Kurt Asamer from the business, which left the remaining partners with a combined share of 75.01 per cent.

UltraTech's bid for Binani approved by NCLAT

14 November 2018, Published under Cement News

A bid submitted by India’s UltraTech Cement to acquire Binani Cement has received approval from the National Company Law Appellate Tribunal (NCLAT). A two-member bench of NCLAT, headed by Chairman Justice S J Mukhopadhaya, approved the company’s resolution plan and said that the plan submitted by Dalmia Bharat’s Rajputana Properties was “discriminatory” against some financial creditors, according to the Press Trust of India. 

Calicom Industries acquires majority stake in Dandot Cement

05 November 2018, Published under Cement News

Pakistan-based Calicom Industries has agreed to acquire a majority stake in Dandot Cement Co Ltd (DDCL). Under the terms of the transaction, Calicom Industries will acquire control of DDCL and 63,542,787 voting shares, representing 67 per cent of paid up capital.

Vicat Group acquires major stake in Ciplan

05 October 2018, Published under Cement News

France’s Vicat Group has announced the acquisition of a major stake in Brazil’s Cimento Planalto (Ciplan). The transaction represents a reserved capital increase of EUR290m for a stake of approximately 65 per cent, with the closing of the deal subject to the fulfilment of certain conditions. Proceeds of the agreement will be used to settle a vast majority of Ciplans’ existing debt.  The company operates a 3.2Mta cement plant in Brasilia, alongside nine ready-mix facilities and five aggrega...