Cement News tagged under: Mergers and Acquisitions

RSS feed

Seacem sells entire stake in Lafarge Republic, Philippines

02 April 2013, Published under Cement News

Southeast Asia Cement Holdings Inc (Seacem) has sold its entire stake in listed affiliate Lafarge Republic Inc worth PHP11.32bn (US$227.9m). The stake has been sold as part of the company's bid to raise cash and improve the firm's financial position amid the likely entry of a new investor, Seacem said in a disclosure.

Semen Indonesia to begin Myanmar construction next year

26 March 2013, Published under Cement News

PT Semen Indonesia is set to start construction of a new plant in Myanmar next year as part of the country's regional expansion drive. Citing the company’s president director Dwi Soetjipto, the Jakarta Post reported that operations at the 1Mta would begin in 2017. The plant would mainly serve the growing market of Myanmar which is modernising its economy after decades of military rule. Domestic cement consumption, which in 2012 is expected to have increased by 16.7 per cent to 7Mt, is ...

HSBC Global increases stake in India Cements

15 March 2013, Published under Cement News

HSBC Global Investment Funds has purchased 384,345 shares of India Cements Ltd for an undisclosed sumy, the cement producer said in a notice to the stock exchanges. Following the acquisition, HSBC Global Investment's stake in the company has risen to 5.12 per cent, India Cements noted. 

Holcim and Heidelberg to operate Cement Australia as a joint venture

14 March 2013, Published under Cement News

Holcim Ltd said Thursday it plans to sell a 25 per cent stake in Cement Australia to HeidelbergCement and operate the company as an equally-controlled joint venture between the two cement majors. Holcim and HeidelbergCement should be equally represented on the board and the chairmanship should rotate, the Swiss firm noted, adding that the contract on the transaction is still to be signed. Holcim currently owns 75 per cent of Cement Australia and Hanson Cement the other 25 per cent. “Th...

Thatta Cement majority shareholder shares stake to consortium

11 March 2013, Published under Cement News

The majority shareholder of Thatta Cement, Pakistan, has sold its stake to a consortium of four private companies. In an announcement sent to the Karachi Stock Exchange last week, Arib Habib Corp (AHC), along with its subsidiaries, said it has sold its 61 per cent holding in Thatta Cement to the consortium PKR24.16/share. The total value of the transaction is approximately PKR1.46n (US$14.75m). Two private buyers companies, Sky Pak Holding and Al-Miftah Holdings each bought 22.7 per cen...

Seacem sells 4.3 per cent in Lafarge Republic, Philippines

08 March 2013, Published under Cement News

Southeast Asia Cement Holdings, Inc (Seacem) has sold around four per cent of its stake in affiliate Lafarge Republic, Inc.  "Seacem has... sold 50 million of its shares of stock of Lafarge Republic, or 4.3 per cent  of Seacem's total Lafarge Republic shares, to the public consisting mostly of institutional investors," Seacem said in a disclosure yesterday.

Russia’s Antimonopoly Service blocks Siberian deal

01 March 2013, Published under Cement News

Russia’s Federal Antimonopoly Service (FAS) has disallowed a deal for cement producer Russkyaya Tsementanaya Kompania to acquire a 100 per cent shareholding in fellow cement producer Iskitimtsement, according to local press reports. In its ruling, the FAS said it believed the deal would result in limited competition in the Siberian cement market and increased prices, SKIRIN news agency reported. The FAS had previously blocked the sale of a 90 per cent stake in Iskitimtsement to Sibirsk...

Cementos Portland books capital gain from stake swaps, Spain

28 February 2013, Published under Cement News

Spain-based cement producer Cementos Portland Valderrivas has booked a capital gain of EUR115.6m following the asset swap of its shareholding in Cementos Lemona for Cementos Uniland with CRH. The capital gain was divided into two lots: the first, totalling EUR100m, came from the exchange of the shares owned by Portland in Lemona for a 26.3 per cent stake in Uniland. The other EUR15.6m came from the sale of Cementos Portland's 100 per cent ownership in the capital of UK cement terminal So...

China Resources in proposed joint-venture agreement, China

26 February 2013, Published under Cement News

China Resources Cement has entered into a two-year framework agreement with Zhihai Group Co Ltd to establish a joint venture. The new venture intends to acquire clinker production lines with a capacity of around 1.55Mta, cement grinding lines with amounting to around 4.3Mta and concrete batching plants with a total capacity of about 5.8Mm3. China Resources will hold the majority interest of the joint venture. It is expected that the acquisition of the assets/business will be completed ...

East African Portland Cement eyes expansion

26 February 2013, Published under Cement News

Kenya’s East African Portland Cement Co (EAPCC) is exploring the option of expanding its operations both at home and in neighbouring Tanzania, according to reports by Reuters. “We are now discussing the financing of these projects,” Reuters quoted managing director, Kephar Tande as saying. Cost cutting measures and improved cement sales helped EAPCC post a profit for the first six months of last year. EAPCC made a pretax profit of KES376.27m (US$4.3m) for the six months ended December, co...