Cement News tagged under: Mergers and Acquisitions
Birla Corp acquires stake in AMP Solar Clean Power21 November 2019, Published under Cement NewsBirla Corp and RCCPL, its wholly-owned subsidiary, have acquired 26 per cent ownership (7.8 per cent and 18.2 per cent, respectively) of AMP Solar Clean Power. Birla Corp is planning to purchase solar power for its grinding units in Raebareli, Uttar Pradesh, (Raebareli Cement Works and Raebareli Hitech Cement) and RCCPL’s Kundanganj grinding facility. This will be achieved under the group’s captive scheme that stipulates at least a 26 per cent participation in the equity capital of the so... |
CRH reportedly looks to sell Philippine operations14 November 2019, Published under Cement NewsCRH is reportedly considering a sale of its Philippine cement business as the company seeks to raise cash by selling non-core assets, according to the Irish Independent. JP Morgan Chase is said to be assisting with finding a buyer for the operations, which could be valued between US$2-3bn. The company is currently receiving bid interest from Asia and Europe. However, the plans are still at a preliminary stage and no final decision has been made. CRH acquired Philippines-based Republic Cem... |
Jidong Cement to acquire 49% stake in Beijing BBMG Mangrove09 October 2019, Published under Cement NewsChina’s BBMG Corp is set to sell its entire 49 per cent stake in Beijing BBMG Mangrove to Jidong Cement for CNY1.72bn (US$241m). Jidong Cement is expected to fund the acquisition of the waste management company in an all-cash deal, according to a statement by BBMG. The proceeds from the divestment will be used to meet BBMG’s working capital requirements. |
Reliance Logistics acquires 92% of Sama Cement's share capital04 October 2019, Published under Cement NewsReliance Logistics Co has acquired 3.68m stocks of Egypt’s Sama Cement, representing 92 per cent of the company’s share capital. Sama Cement owns 6.8 per cent of Sinai cement, with Reliance Logistics reporting that its indirect and direct stakes in the latter have now reached 17.4 per cent. |
Lehigh Hanson set to acquire Giant Cement's Keystone plant27 September 2019, Published under Cement NewsHeidelbergCement has announced that its north American subsidiary, Lehigh Hanson Inc, has entered into an agreement to acquire Giant Cement’s (Elementia SAB de CV) Keystone facility in Bath, Pennsylvania. The agreed purchase price for the unit is US$151m cash free and debt free, equivalent to US$137/t of capacity. The plant operates 1.1Mta of cement capacity following a kiln line modernisation in 2009. It supplies the Pennsylvania, New Jersey and New York markets with bulk and bagged Portl... |
RHI Magnesita set for Indian consolidation18 September 2019, Published under Cement NewsRHI Magnesita is now in the final stages of consolidating its three Indian arms to become the largest refractory company in the country, with approval from the National Company Law Tribunal (NCLT) expected within a week, according to The Economic Times. The three companies, Orient Refractories, RHI Clasil and RHI India, would all become RHI Magnesita India. "We are in the final stages of consolidating our three arms in India into a single entity. We hope to get the interim approval within ... |
San Miguel's acquisition of Holcim Philippines undergoes further review09 September 2019, Published under Cement NewsThe Philippine Competition Commission (PCC) is conducting a further review of the US$2.15bn acquisition of Holcim Philippines by San Miguel Corp. As the initial 30-day review of the deal ended on 22 August, the PPC will now proceed to the 60-day Phase Two review. “Cement is a commodity with low product differentiation where brands undergo the same quality standards. While the transaction is national in scope, the initial review shows that geographic markets by region affect retailers and ... |
Zhejiang Shangfeng to acquire majority stake in cement producer02 September 2019, Published under Cement NewsChina’s Zhejiang Shangfeng Building Materials Co is set to acquire a 65 per cent stake in Ningxia Mingfeng Mengcheng Building Materials Co, a producer of general Portland cement, clinker and special cement. The total value of the deal is CNY196.65m (US$27.76m). After completion, Ningxia Mingfeng is expected to become a holding subsidiary of Zhejiang Shangfeng. The acquisition will reportedly allow Zhejiang Shangfeng to increase the scale of the industry, enrich the product structure and enh... |
UltraTech's acquisition of Century Cement to be completed soon19 July 2019, Published under Cement NewsIndia’s UltraTech Cement has confirmed that it will complete the merger of Century Cement in the second quarter of the FY19-20. The only pending approval which remains for the deal is the transfer of mining leases, which is expected to be completed soon, according to Kumar Mangalam Birla, chairman of the company. "After the completion of the Century Cement transaction, coupled with the on-going capacity expansion, our capacity will be augmented to over 117.35Mta, inclusive of its overseas o... |
International Cement fails to receive SGX acquisition approval24 June 2019, Published under Cement NewsInternational Cement Group (ICG) has failed to receive approval from the Singapore Exchange (SGX) for the complete acquisition of Schwenk Namibia , valued at US$104.4m, according to Business Standard. The exchange has stated that the acquisition does not satisfy a requirement for the target business to be profitable. SGX also noted that ICG does not have sufficient cash resources to fund the acquisition and possibly intends to obtain significant external loans from financial institutions ... |