Cement News tagged under: Mergers and Acquisitions

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CCI clears JSW Steel acquisition of Heidelberg plant

17 December 2013, Published under Cement News

The Competition Commission of India (CCI) has approved the acquisition of HeidelbergCement India's grinding facility at Raigad, Maharashtra, by JSW Steel. JSW Steel announced back in October its intention of acquiring the 0.6Mta grinding works. "Considering the facts on record and the details provided in the notice (under relevant Section of the Competition Act) ...the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competi...

Texas Industries working with Citigroup for possible sale, USA

16 December 2013, Published under Cement News

The owners of Texas Industries are reported to be exploring a sale of the Dallas-based company, Bloomberg reported, citing three people with knowledge of the matter. Southeastern Asset Management Inc. and NNS Holding, the two largest shareholders, have been looking to sell their stakes for some time, though they may struggle to get a price they deem sufficient, one source said. Vulcan Materials and Holcim are among the companies being viewed as potential suitors, the news agency quoted one...

PPC gets competition tribunal go-ahead for Safika Cement acquisition

16 December 2013, Published under Cement News

PPC’s previously-announced acquisition of South African blended cement producer Safika Cement has been unconditionally approved by the country’s Competition Tribunal. An agreement to acquire a controlling equity stake in Safika Cement for a cash consideration of approximately ZAR350m (US$35.3m) was announced by PPC in August this year. PPC said last Friday, that the completed deal further enhances its footprint in South Africa where Safika Cement owns five blending facilities and one mi...

KHD recommends shareholders accept AVIC offer

06 December 2013, Published under Cement News

The management and supervisory board of KHD Humboldt Wedag International have recommended company shareholders accept a takeover bid from AVIC International at the offer price of EUR6.45/share. The offer price corresponds to a premium of 34.9 per cent on the average closing price of the KHD share over the three-month period prior to announcement of the offer on October 10, 2013. KMPG, who was engaged by KHD’s management board, as well as Network Corporate Finance, a consulting company com...

Sichuan Shuangma to acquire stake in Dujiangyan Lafarge

03 December 2013, Published under Cement News

Sichuan Shuangma Cement Co says it plans to acquire a 25 per cent stake in Dujiangyan Lafarge Cement from Lafarge China Offshore Holding Company for about CNY832m (US$136.5m). Sichuan Shuangma has said the acquisition will be via shares issuance of about 147.58m shares at CNY5.64/share.

AVIC confirms bid for KHD

02 December 2013, Published under Cement News

AVIC International Engineering has published the offer document for the voluntary public takeover offer to the shareholders of KHD to acquire all shares in KHD. According to a release, the joint bidders offer a cash consideration of EUR6.45 per KHD share. The offer price includes a premium of approximately 35 per cent on the weighted average domestic stock exchange price for KHD shares in the three-month period prior to the publication of the decision to launch the takeover offer on 11 Octo...

TCC International receives buyout bid

28 November 2013, Published under Cement News

TCC International Holdings said it received a buyout offer from its parent company Taiwan Cement Corp. Taiwan Cement currently holds a 56.5 per cent stake in TCC International Holdings. The proposed deal is valued at HKD5.59bn (US$721m), according to Bloomberg. The deal will allow Taiwan Cement to book the full profits of the Hong Kong unit, TCC International Holdings Ltd, which has a major production base in China and is benefiting from rising product prices there, analysts said.

Bestway and Mustehkam Cement complete merger

27 November 2013, Published under Cement News

Pakistan cement producers Bestway Cement and Mustehkam Cement have announced the completion of their merger into a single company. Mustehkam Cement has been a subsidiary of Bestway Cement since in 2005 and the main of objective of this new merger is to operate the businesses under one management to achieve economies of scale. The merger would result in administrative and procurement savings and reduce marketing costs leading to enhanced profitability, the companies said when the move was f...

Holcim gets FIPB approval for India restructure

14 November 2013, Published under Cement News

Holcim has received approval from the Foreign Investment Promotion Board (FIPB) of India to merge Holcim India Private Ltd (HIPL) with Ambuja Cements as part of plans to streamline its operations there. Holcim, which holds majority stakes in ACC and Ambuja Cements, announced plans in July to consolidate operations. In a two stage deal, Ambuja will first acquire a 24 per cent stake in HIPL for a cash consideration of INR35,000m (US$~600m), followed by a stock merger between HIPL and Ambuja....

Viettel Group acquires 70% stake in Vietnamese producer

13 November 2013, Published under Cement News

Military-run Viettel Group has acquired a 70 per cent stake of Vietnamese cement producer Cam Pha Cement for VND140bn ($6.64m). The 139.8m shares were purchased from Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) at around VND1,000 each, the current book value of the cement firm, the Thoi Bao Kinh Te Sai Gon newspaper reported. Viettel, which holds a 21.3 per cent stake in Vinaconex, will pay Cam Pha Cement’s debts and help the latter restore its manufacturin...