Cement News tagged under: Mergers and Acquisitions
Dalmia Cement acquires full control of Bokaro Jaypee Cement01 December 2014, Published under Cement NewsDalmia Cement (Bharat) Ltd has acquired full control of Bokaro Jaypee Cement Ltd (BoJCL), following the purchase of the 26 per cent stake in the company it did not already own. BOJCL was initially set up in 2008 up as a 74:26 per cent joint venture between Jaiprakash Associates Ltd (JAL) and the Steel Authority of India’s (SAIL). In June this year, JAL sold its entire majority shareholding in BoJCL to Dalmia Cement. Shri Rangam Securities & Holdings Ltd, a subsidiary of Dalmia, has now pu... |
India: LafargeHolcim merger could harm competition25 November 2014, Published under Cement NewsThe merger between Holcim (Switzerland) and Lafarge (France) is likely to hurt competition in the country, says the Indian Competition Commission (CCI), according to reports in the Indian media. The CCI stated that it ''formed a prima facie opinion that the combination is likely to have an appreciable adverse effect on competition.'' The regulator has now directed both companies to publish details of the merger to the knowledge of the public and rival companies that may be affected or... |
Holcim expects to select buyers for assets by end-Jan19 November 2014, Published under Cement NewsHolcim said it expects to have found buyers for the cement plants and other operations linked to its tie-up with Lafarge by the end of January, and that the merger is on course to be completed by the middle of next year as planned. "We expect the final bids somewhere in January 2015," Bernard Fontana, chief executive of Holcim said at the company's investor day on Tuesday, adding that Holcim also hoped to select buyers for the assets the same month. "All this is consistent with an over... |
Oyak Group eyeing Lafarge and Holcim assets14 November 2014, Published under Cement NewsOyak Group, Turkey’s largest cement producer, has US$2bn in cash for acquisitions and may spend some of it on assets Holcim and Lafarge are looking to shed ahead of their planned merger. The head of the Ankara-based company told Bloomberg in an emailed statement that the group is interested in Holcim and Lafarge businesses in the eastern European countries of Romania, Serbia and Hugary. “We are interested in bidding as Oyak or together with a European group” for assets, Caglar said. Oyak ... |
South Valley to bid for additional shares in BMIC, Egypt12 November 2014, Published under Cement NewsSouth Valley Cement Company voted on Sunday to bid for no less than 30 per cent of Egyptian Building Materials Industry Company (BMIC), to add it to the 47.61 per cent of the shares that it currently owns. The offer is aimed at the 30.07 per cent held by Egypt Kuwait Holding Company but will also be extended to other investors in BMIC interested in selling their shares, South Valley Cement announced on Monday in a filing to the Cairo Stock Exchange. No financial details related to the pote... |
TCC International unit to acquire Hunan Jindadi Materials Company Ltd12 November 2014, Published under Cement NewsTCC International (Hong Kong) Company Ltd, a wholly-owned subsidiary of TCC International Holdings Ltd, has entered into an agreement to acquire 100 per cent stake in Hunan Jindadi Materials Company Ltd. Hunan Jindadi Materials is a China-based manufacturer and seller of cement, clinker, concrete products and gravel aggregate products, from Peng Zhongxi, Liu Xingjun, Ma Jianjun, Xiang Zeqiang, Yang Xiaohui and Xiao Jianqiang. The acqusition is reported to be worth CNY1270m (US$206.66m). |
Lafarge to acquire complete control of Unicem11 November 2014, Published under Cement NewsLafarge Nigerian Cement Holdings said on Monday it had entered into an agreement with Flour Mills of Nigeria to purchase a 30 per cent stake in United Cement Company of Nigeria Ltd (Unicem). The deal will give Lafarge's Nigerian Cement Holdings complete control of the country's third-largest cement manufacturer, Reuters reported. "Pursuant to the agreement, a first 15 per cent tranche would be acquired in the first quarter of 2015, while the second 15 per cent tranche is scheduled to be ac... |
UltraTech acquires 51% interest in Omani mining firm10 November 2014, Published under Cement NewsUltraTech Cement Middle East Investments, a subsidiary of UltraTech Cement, has acquired a 51 per cent interest in Omani mining company Awam Minerals LLC. Awam Minerals possess a licence for mining substantial gypsum deposits in the south of Oman, which will serve as a captive mine for UltraTech Cement's network of plants. UltraTech Cement. India’s largest cement producer, also operates two grinding units and a clinker plant in the UAE, and a grinding unit in Bahrain, through its Middle Ea... |
PPC increases stake in Habesha, Ethiopia06 November 2014, Published under Cement NewsPPC has increased its shareholding in Ethiopian producer Habesha Cement Share Company to 51 per cent by acquiring the Industrial Development Corporation's (IDC) 20 per cent stake in the company for US$13m. In July 2012, PPC jointly acquired a 47 per cent stake in the Habesha Cement for US$21m, with PPC investing US$12m cash to obtain a 27 per cent stake in Habesha Cement and the IDC simultaneously investing US$9m for a 20 per cent equity stake. The balance of the shareholding is held by mo... |
Taiwan Cement Corp subsidiary in Chinese acquisition03 November 2014, Published under Cement NewsTaiwan Cement Corp announce that it plans to spend CNY676m (US$1117m) to acquire Sichuan Railway Group Cement via a subsidiary as part of its plans to increase its presence in China. The acquisition is being made through the company's subsidiary TCC International. Upon completion of the deal, Taiwan Cement's total clinker and cement capacity would be increased by 1.6Mta and 2Mta, respectively . Currently, TCC International, which is listed in Hong Kong, operates two plants in Sichuan: ... |