Cement News tagged under: Mergers and Acquisitions
HeidelbergCement won't bid for Lafarge and Holcim assets03 November 2014, Published under Cement NewsHeidelbergCement has said it will not bid for any of the assets up for sale by rivals Lafarge and Holcim as part of their planned merger. “After a thorough analysis, HeidelbergCement has decided to refrain from the ongoing bidding process for the assets offered for sale of Lafarge and Holcim in the frame of its merger proceedings, “ the German cement major said in a statement. There had been speculation that HeidelbergCement would use the anticipated proceeds from the announced sale of its... |
Holcim Philippines board gives nod for Lafarge talks29 October 2014, Published under Cement NewsHolcim Philippines’ board of directors have authorised the company to “consider and negotiate the purchase” of Lafarge’s shares in Lafarge Illigan Inc, Lafarge Mindanao and Lafarge Republic Aggregates, Holcim said in a disclosure to the local stock exchange. Also included is Lafarge's stake in Star Terminal at the Harbour Centre in Manila, and "such other specific assets or contracts as may be identified or negotiated between the parties." Holcim President and CEO Eduardo A Sahagun told... |
Holcim and Lafarge formally notify EC28 October 2014, Published under Cement NewsLafarge and Holcim have formally notified the European Commission (EC) of their proposed merger to obtain regulatory approval and have made slight changes to the list of assets being disposed in Europe. During the pre-notification discussions which Lafarge and Holcim have had with the European Commission, the list of proposed assets for divestment in Europe has been slightly amended. Compared with the list of assets presented on July 7, 2014, the two companies now propose to: • retain Lafa... |
CNBM to acquire stake in Shanshui Cement28 October 2014, Published under Cement NewsChina National Building Material Co (CNBM) is set to acquire a 20 per cent stake in Shanshui Cement Group for HK$1.56bn (US$201m). Shanshui Cement will sell 563.2M new shares at HK$2.77 each, according to a statement to the Hong Kong stock exchange yesterday. Shanshui said it plans to use the proceeds to replenish working capital, reduce its debt level and improve efficiency. In a separate filing, CNBM said that the deal will promote cooperation with Shanshui and the “healthy development... |
Holcim and Lafarge to identify non-core assets in India for divestment16 October 2014, Published under Cement NewsHolcim and Lafarge have begun an internal process in India to identify assets which have to be divested to adhere to the requirements of the country’s Competition Commission. Two sources familiar with the matter told The Economic Times of India that: “Both the companies are running processes to understand which are the plants and operations which are not linked to their strategic global plans," says one of the persons quoted above. "These plants and operations will be divested." "The proc... |
UltraTech to bid for Lafarge Holcim assets?15 October 2014, Published under Cement NewsUltraTech Cement is reportedly eyeing cement assets being put on the block by Holcim and Lafarge ahead of their planned merge Local press have speculated that the Aditya Birla group company is more interested in Holcim and Lafarge's assets in emerging countries, particularly in Latin America. Chairman Kumar Mangalam Birla is leading the bid preparations, a source familiar with the deal told The Times of India. |
Lafarge and Holcim merger 'on track', set to request EU approval10 October 2014, Published under Cement NewsLafarge and Holcim are about to request approval from the European Commission for their planned merger, Lafarge Chief Executive Bruno Lafont told reporters on Thursday. "We are indeed very close to (EU) notification," Lafont told Reuters on the sidelines of a conference on affordable housing at Lafarge's headquarters in Paris. He added that talks with Brussels had been "constructive" and that the companies were "well on track" to close the deal in the first half of next year. Notifying the ... |
SA watchdog puts condition on merger approval09 October 2014, Published under Cement NewsThe Competition Commission of South Africa has consented to the merger of Holcim and Lafarge SA on condition that Holcim divests of the shareholding in Afrisam within three years of the approved merger. The watchdog said on its website that it had approved the intermediate merger on 1 October 2014, Holcim exited the South African market a few years ago, except for a stake it held in Afrisam. Until the transaction, it was only Lafarge that operated in South Africa. "The commission f... |
UltraTech reportedly eyeing further Jaypee units08 October 2014, Published under Cement NewsUltraTech Cement is believed to be looking at possible acquisition of Jaypee Group's three cement plants in Madhya Pradesh, according to local press reports. While investment banking sources involved in the talks said that the discussions are currently underway for a possible deal, a spokesperson for UltraTech declined to comment. In the June quarter, UltraTech completed the acquisition of Jaypee Cement Corp’s units in Gujarat, comprising an integrated unit at Sewagram and a grinding un... |
CRH reportedly selling brick business06 October 2014, Published under Cement NewsIrish building materials major CRH is selling its clay brickwork division for up to GBP600m, according to reports in The Sunday Times. The move comes as the company prepares to bid for a group of cement business from Holcim and Lafarge as the two companies look to shed assets ahead of their proposed merger. The reported cited city sources who said CRH had hired bankers from JP Morgan to find a buyer for the division. Several private equity firms are thought to be interested in buying the ... |