Cement News tagged under: Mergers and Acquisitions
Holcim and Heidelberg to operate Cement Australia as a joint venture14 March 2013, Published under Cement NewsHolcim 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 consortium11 March 2013, Published under Cement NewsThe 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, Philippines08 March 2013, Published under Cement NewsSoutheast 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 deal01 March 2013, Published under Cement NewsRussia’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, Spain28 February 2013, Published under Cement NewsSpain-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, China26 February 2013, Published under Cement NewsChina 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 expansion26 February 2013, Published under Cement NewsKenya’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... |
Two frontrunners emerge for Jayajothi Cements stake, India25 February 2013, Published under Cement NewsCiti Venture Capital International (CVCI) and Blackstone have emerged as the two private equity (PE) investors shortlisted by the Shriram Group to purchase a stake in its Jayajothi Cements cement unit. The Times of India reports that the two companies are vying for a "big stake“ in Jayajothi Cements but with Shriram continuing to manage the cement unit. Shriram had explored options of selling the stake in Jayajothi to global majors like CRH and Holcim (both of which are active in the India... |
Majority stake in Zeal Pak Cement to be sold, Pakistan21 February 2013, Published under Cement NewsThe majority shareholder of Pakistan cement manufacturer Zeal Pak Cement, Sardar Mohammad Ashraf D Baluch (Pvt) Ltd, plans to its 64 per cent controlling stake in the company. Zeal Pak’s plant, located in Hyderabad, Sindh province, is a wet-process plant with a capacity of 3000tpd. A company official told CemNet News that the owner also wants to sell Zeal Pak Cement Factory’s paper sack division, which has a capacity of 120,000 bags per day. The slag division of Zeal Pak Cement Factory is ... |
Binani Industries plans to sell 40% stake in cement arm, India21 February 2013, Published under Cement NewsBinani Industries in talks to sell up to a 40 per cent stake in its subsidiary Binani Cement to raise capital to cut debt and expand cement capacities. The company is said to be in talks with potential financial investors such as JP Morgan and state-owned funds, according to latest reports by the Economic Times. Ernst & Young (E&Y), Braj Binani’s group banker for the transaction, has been in talks with prospective investors, two sources disclosed. In response, Sunil Sethy, executive v... |