Cement News tagged under: Mergers and Acquisitions

RSS feed

Holcim reduces stake in Siam City Cement, sells minority shareholding in Cementos Progreso

21 December 2012, Published under Cement News

Holcim has announced that it has reduced its stake in Siam City Cement Ltd (SCCC) of Thailand and has sold its minority shareholding in Guatemalan producer Cementos Progreso, contributing CHF375m (EUR310.6m) to the Holcim Leadership Journey programme. SCCC stake reduced Holcim Ltd has reduced its shareholding in SCCC from 36.8 per cent to 27.5 per cent. The shares have been purchased by Bangkok Broadcasting and Television Co, part of the Ratanarak Group, which will increase its shareho...

Lafarge looking to sell stake in Indian operations?

21 December 2012, Published under Cement News

Private equity funds are in talks to buy a minority stake in Lafarge India as the cement company taps new ways to fund its expansion, the Economic Times of India reports. Carlyle, KKR, Temasek and TPG Capital have begun preliminary talks with Lafarge India management, two sources close to the transaction said. Some of them have also signed non-disclosure agreements. Lafarge wants to shed up to a 20 per cent stake to fund expansion plans worth about INR6000 crore, the ET reported. " Lafar...

Quinn and Lagan Cement propose merger

20 December 2012, Published under Cement News

Ireland-based Quinn Building Products and the Lagan Cement Group have signed a memorandum of understanding that may lead to a merger of the two groups. The businesses, which will become part of the proposed joint venture, are the combined cement and building products businesses based in Ballyconnell, Derrylin, Kinnegad, Belfast, Cork in Ireland and Benelux. Quinn Therm, Quinn Litepac, Quinn Tarmac and Lagan Sand are not included in this proposal. Commenting on the proposed JV, the CE...

Semen Gresik seals Vietnam deal

20 December 2012, Published under Cement News

Indonesia’s leading cement producer PT Semen Gresik has signed deal worth US$157m with Hanoi General Export-Import JSC (Geleximco) on 18 December to acquire 70 per cent stake in Thang Long Cement JSC. Under the agreement, first reported in mid-November, Semen Gresik will become a strategic shareholder of Thang Long Cement JSC, a joint venture between the state-run Vietnam Machinery Installation Group (Lilama) and Geleximco, local press reported on Wednesday. Thang Long Cement has a cem...

Taiheiyo's China subsidiary announces new joint venture

17 December 2012, Published under Cement News

Japan's leading cement producer Taiheiyo Cement Corp announced that its Chinese sub sidiary Taiheiyo Cement (China) Investment Corp, has signed a joint venture agreement with Xinjian Tianye (Group) Co in Beijing. Both companies agreed to establish the new venture named Xinjiang Tianye Taihieyo Building Material Co (TTBM) in Xingjiang Uygur Autonomous Prefecture in northwest China. TTBM will produce OPC, blended cement and special cement, such as moderate heat cement. TTBM will utilise quick...

PPC buys majority stake in Rwanda cement producer

13 December 2012, Published under Cement News

South Africa’s leading cement producer Pretoria Portland Cement (PPC) has acquired a 51 per cent equity stake in Rwanda-based cement producer Cimerwa Ltd. The deal is worth a total cash consideration of US$69.4m. Cimerwa is situated in southwestern Rwanda and is the African country’s sole cement producer. It has a current capacity of 100,000tpa and is constructing a 600,000tpa expansion that will be commissioned in 2014. In addition to shareholder equity contributions‚ Cimerwa is in t...

Lafarge looking to sell South Korean unit

12 December 2012, Published under Cement News

Lafarge is seeking to sell its majority stake in South Korean unit Lafarge Halla Cement for KRW700bn (US$650m) and is currently searching for buyers, according to a report by Reuters citing South Korean online media Edaily. The company is said to have chosen US-based Lazard and HSBC’s South Korean unit as managers for the sale. Lafarge operates one integrated cement works and two grinding plants in South Korea with a combined cement capacity of 9.6Mta. In 2011, it had an approximate ma...

Jaypee/Aditya Birla talks advance, India

10 December 2012, Published under Cement News

Talks between the Jaypee Group for its sale of its Gujarat based cement units to Aditya Birla have moved into the final stages, according to local media reports, adding that valuations of the deal have continued to put hurdles in the way of the deal. Reports that the Birla group have been negotiating for the price Jaypee Gujarat cement units and if the deal proceeds they may end up paying around US$800m. It said that the Birlas have offered US$160/t of capacity, much lower than the US$200/t...

Jaiprakash may not meet asset sale target – Kim Eng

05 December 2012, Published under Cement News

Jaiprakash Associates may not meet its target of raising INR50bn via a sale of its plants in Gujarat and Andhra Pradesh states, according to analysis by Asian securities and investment broker Kim Eng. Jaiprakash on Monday said buyers are showing interest in its Gujarat plant only and not its Andhra Pradesh plant. It also denied media reports that said it had sold its 5Mt capacity Gujarat cement plant to UltraTech Cement at a valuation of US$180/t. The company however says that it is sti...

Dalmia Cement buys additional stake in Calcom

04 December 2012, Published under Cement News

Dalmia Bharat Enterprises has informed the Bombay Stock Exchange that its subsidiary, Dalmia Cement (Bharat) has approved acquisition of additional 26 per cent stake in Calcom Cement for a consideration of INR77.16 crore. A share purchase agreement to this effect was signed on Friday. This consideration will be paid in multiple tranches and will be subject to the adjustments and other terms and conditions set out in the definitive agreements.