Cement News tagged under: Mergers and Acquisitions
Italcementi sets Ciments Francais bid price20 May 2014, Published under Cement NewsItalcementi said on Tuesday it had fixed the price in a takeover bid for the shares in its French unit Ciments Francais that it does not yet own at EUR79.5/share. The takeover, part of the company's restructuring of its European business, will be financed via a rights issue for up to EUR500m. |
Several companies show interest in Lafarge Pakistan12 May 2014, Published under Cement NewsIn response to a notice sent to the Karachi Stock Exchange by Lafarge SA to divest its entire holding (75.86 per cent) in Lafarge Pakistan Cement Limited (LPCL), local as well as international players have shown interest in acquiring the company. While the acquisition remains in the due diligence phase at the moment, seven companies/groups are currently believed to be vying for LPCL namely: Lucky Cement, DG Khan Cement, House of Habib, Vision Holdings, Pioneer Cement, Bestway Cement and K... |
Semen Indonesia to acquire stake in Myanmar producer09 May 2014, Published under Cement NewsIndonesia's largest cement manufacturing company, Semen Indonesia, is all set to enter Myanmar's cement market after it agreed to purchase a minority stake at a local cement firm, according to president director of the company, Mr Dwi Soetjipto. "At the moment we can only enter Myanmar's economy with minority control, so we will start with a 30 per cent ownership," Soetjipto announced. Mr Soetjipto said the acquisition of the minority stake in the local firm is worth US$30m, but did not ... |
Alfonso Gallardo Group sells cement business02 May 2014, Published under Cement NewsAlfonso Gallardo Group is to sell its cement and paper business to focus on the iron and steel sector to ensure its viability, according to a statement by the group. The company signed a refinancing agreement with the majority creditor banks and venture capital firm Kohlberg Kravis Roberts (KKR). The group will divest from Cementos Balboa, located in Alconera (Badajoz), as well as Papresa in Rentería (Guipúzcoa), and reduce its debt by around EUR500m. |
Asia Cement expects rise in shipments following Sichuan acquisition02 May 2014, Published under Cement NewsAsia Cement Corp expects a strong rise in shipments from its Chinese unit during the second quarter of 2014 compared to the same period a year ago, as it is set to benefit from the acquisition of two production lines in Sichuan province. Deliveries are expected to increase to 8Mt this quarter, compared with 5.29Mt a quarter ago, following the recent acquisition by subsidiary Asia Cement (China) of Sichuan Lanfeng Cement Co, the company said. Earlier this week Asia Cement (China) reported a... |
EC to investigate Cemex and Holcim Spanish deal24 April 2014, Published under Cement NewsThe European Commission said on Wednesday it is investigating plans by Cemex and Holcim over a Spanish deal because of competition issues. "The Commission has concerns that the transaction may reduce competition in certain areas of Spain where the two companies' activities overlap," the EU executive said in a statement. Removing Holcim from the Spanish market “could facilitate coordination” between cement makers, the statement added. Collusion on pricing and customer allocation “could b... |
Asia Cement (China) reaches Sichuan purchase deal18 April 2014, Published under Cement NewsAsia Cement (China) Holdings Corp, the Chinese unit of Taiwans second-biggest cement maker, has reached a share purchase deal with Sichuan Lanfeng Cement Co. In a filing with the Hong Kong Stock Exchange, Asia Cement (China) said it had acquired 100 per cent of the equity interest in Sichuan Lanfeng for CNY2.005bn (US$322.25m) through its wholly-owned subsidiary Sichuan Yadong Cement Co.Upon the completion of the acquisition, Sichuan Lanfeng will become a wholly owned subsidiary of Sichuan... |
Turkish majors eye LafargeHolcim divestment opportunities18 April 2014, Published under Cement NewsTurkish cement producer are keen on acquisition opportunities that may arise from the Lafarge and Holcim merger, according to reports by Reuters. Oyak, the largest cement producer in Turkey, said it had started talks with international investment banks for possible acquisitions, and had US$3bn in cash allocated for opportunities arising from the merger. Meanwhile, Limak Holding's cement group chief executive, Gultekin Aksuyek, said it had already started working on a budget allocation for ... |
Anglo American completes the sale of Tarmac Building Products to Lafarge Tarmac11 April 2014, Published under Cement NewsAnglo American plc announced the completion of its sale of Tarmac Building Products Limited (TBP) to Lafarge Tarmac Holdings Ltd (Lafarge Tarmac), following receipt of regulatory approval. Anglo American announced on 14 November 2013 that it had reached an agreement to sell TBP to Lafarge Tarmac Holdings Limited, the 50:50 joint venture of Lafarge’s and Anglo American’s construction materials and services businesses in the United Kingdom. The terms of the transaction remain confidential. T... |
Oyak eyes Europe, Africa acquisitions10 April 2014, Published under Cement NewsTurkey-based Oyak is looking into acquisitions in the cement sector, with a specific focus on Europe, Africa and Great Britain, its cement group chairman Celalettin Caglar said on Thursday. Speaking to Reuters, Caglar said that the group is also interested in acquisition opportunities that could arise through the Lafarge and Holcim merger as the groups look to divest in assets to appease potential concerns by antitrust regulators. The company’s said on Monday that two-thirds of divestments ... |