Cement News tagged under: Mergers and Acquisitions
UltraTech in talks with JP Associates for Gujarat assets, India24 April 2013, Published under Cement NewsUltraTech Cement is reportedly closing in on a deal to acquire the cement assets of Jaiprakash Associates in the state of Gujarat, India, according to local press reports. "The deal is expected to be sealed before May. The valuation and other critical aspects, such as the indemnity amount, are more or less finalised. We are waiting for one more approval," reported The Economic Times quoting two persons with direct knowledge of the development. The report added that the sale of the cement... |
Sale of Akmenes Cementas shares blocked by anti-trust regulator24 April 2013, Published under Cement NewsLithuania’s Competition Council has blocked the sale of a 51 per cent stake in Akmenes Cementas to Concretus Materials, part of the Betoneta Group. The regulator concluded on Monday that the market share, which the potential buyer would obtain after the takeover, would be too large. Shortly after the announcement, Concretus Materials withdrew its request for approval and cancelled the offer. Akmenes Cementas is Lithuania’s sole cement producer and operates a plant with a 1.35Mta cl... |
HeidelbergCement increases holding in Russian cement company19 April 2013, Published under Cement NewsHeidelbergCement has increased its holding in the Russian cement company CJSC “Construction Materials” from 51 per cent to 100 per cent. The parties have agreed not to disclose the purchase price. The purchase of the stake is included in the HeidelbergCement capital expenditure plan. CJSC “Construction Materials”, located in Sterlitamak, is the market leader in the Russian republic of Bashkortostan and one of the leading cement producers in the Wolga area with about 760 employees. The ... |
Jaiprakash in new attempt to sell Gujarat assets, India17 April 2013, Published under Cement NewsJaiprakash Associates is reportedly planning to sell its Gujarat-based cement units within a few weeks in an effort to reduce debt. According to reports by the Business Standard of India, the Gujarat cement assets are expected to be sold for INR4000 crore. Earlier, the group was in talks with the Birlas to sell the cement units, however, as its expected valuation of US$170/t was deemed too high, it failed to secure the deal. Sources say the sale is now likely to be carried out at US$150/t.... |
Vinaconex plans to sell stake in Cam Pha Cement, Vietnam12 April 2013, Published under Cement NewsVietnam Construction and Import-Export JSC (Vinaconex), plans to sell a 70 per cent stake in Cam Pha Cement JSC as it continues with its plan to divest in non-core operations. Vinaconex is seeking shareholders approval to sell the shares to foreign partners at below the par value of VND10,000 each, but not lower than Cam Pha’s book value. According to local press reports, two companies have expressed an interest in buying shares in Cam Pha Cement. Last year, the company posted a loss o... |
Sinoma makes Indian acquisition12 April 2013, Published under Cement NewsSinoma International Engineering (Hong Kong) Co Ltd, part of China National Materials Group Corporation Ltd, has acquired a majority stake in India-based cement equipment manufacturer LNV Technology Pvt Ltd. According to the agreement, Sinoma International Engineering has purchased a 68 per cent share in LNV Technology while joint venture partners Mr VC Rao, managing director of the Chennai-based firm and LV Technology Public Co Ltd, hold around a 16 per cent equity share each in the comp... |
Votorantim Cimentos sees gains in Brazil, USA03 April 2013, Published under Cement NewsVotorantim Cimentos’ turnover was nine per cent higher at BRL9800m (US$4.85bn) in 2012 and the EBITDA improved by around 11 per cent to BRL3200m. In Brazil, both volumes and prices were up by four per cent, while in North America volumes improved by 17 per cent and prices by 12 per cent. "The combination of a favorable market alongside the opening of new factories and mills allowed a four per cent increase in sales volume in Brazil, reaching 24Mt. The average price of cement rose fou... |
Seacem sells entire stake in Lafarge Republic, Philippines02 April 2013, Published under Cement NewsSoutheast 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 year26 March 2013, Published under Cement NewsPT 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 Cements15 March 2013, Published under Cement NewsHSBC 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. |