Cement News tagged under: Mergers and Acquisitions

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Dalmia Bharat to buy Adhunik Cement for INR5.60bn

28 September 2012, Published under Cement News

Dalmia Bharat Enterprises Ltd said Friday it has signed an agreement to acquire Adhunik Group's cement unit for about INR5.60bn (US$106.3m). Under the deal, Dalmia Cement Bharat Ltd. will acquire Adhunik Cement Ltd., the company said in a regulatory filing. Adhunik Cement sells cement under the Adhunik MSP brand and has a manufacturing facility with a capacity of 1.5Mta in the Jaintia Hills of Meghalaya, a northeastern state in India, according the Adhunik Group website. Steel maker ...

Huaxin Cement’s largest shareholder buys 18.61m B-shares

21 September 2012, Published under Cement News

China-based cement producer Huaxin Cement said that its largest shareholder bought a combined 18.61m B-shares (or a 1.98 per cent stake in the company) between December 23rd, 2011 and 17 September 2012. After the purchases, its largest shareholder indirectly holds 391 million shares (201 million A-shares and 190m B-shares), or a 41.87 per cent stake in Huaxin Cement. (Source: China Business Newswire).

Algeria government in negotiations for ASEC Cement Algeria stake

20 September 2012, Published under Cement News

The Algerian government is negotiating with Egypt's ASEC Cement to acquire a minority stake in its Algeria-based operations, the firm's main stakeholder told the stock exchange on Wednesday. Algeria aims to acquire 49 per cent of ASEC Cement Algeria by increasing the company's paid up capital, which currently sits at US$60m.   Cairo-based private equity firm, Citadel Capital, has a 48.5 per cent share in ASEC Holding, which in turn owns 61 per cent in ASEC Cement. Citadel directly owns 3...

Govt to appeal court order Assiut Cement renationalisation, Egypt

19 September 2012, Published under Cement News

The Egyptian government plans to file an appeal against a Thursday court ruling renationalising Assiut Cement, Industry and Foreign Trade Minister Hatem Saleh told Ahram Online on Tuesday. Since its privatisation in 1999, Assiut Cement has been 95.8 per cent owned by Cemex. On the sidelines of Tuesday's Egyptian National Competitiveness Conference, Saleh said the government would grant seven new licenses for Egypt-based cement companies once ongoing energy shortfalls were resolved. (...

Dubai Group in talks for Lafarge Emirates stake sale, UAE

14 September 2012, Published under Cement News

The Dubai Group is in talks to sell its 45 per cent stake in its UAE joint venture with Lafarge, according to reports by Reuters. Lafarge Emirates Cement, set up in 2005, is restructuring and needs additional capital to help support the business, something Dubai Group is unable to provide due to its debts. Lafarge Emirates Cement was set up as a joint venture between Lafarge,  Dubai Group, part of conglomerate Dubai Holding, and the Fujairah government, an emirate in the Northern part of ...

Court ruling threatens to nullify Cemex stake in Assuit, Egypt

14 September 2012, Published under Cement News

Cemex said on Thursday its Egyptian unit Assiut Cement Co has learned of a preliminary ruling by a court in Egypt that could nullify the agreement under which Cemex bought a majority stake in the company more than a decade ago, Dow Jones Global Equities News reports. Assiut Cement is fighting the decision. It will continue to operate as usual, Cemex said in a statement to the Mexican Stock Exchange. Cemex bought its stake in Assiut from Metallurgical Industries Co., a state-run Egyptian ...

Cemex clears refinancing deal, considers asset sales

11 September 2012, Published under Cement News

Cemex will extend maturities of bank loans by three years after its restructuring offer won acceptance from creditors holding 92.6 per cent of the debt. The offer had to be accepted by 91 per cent of creditors to go through after the threshold was lowered from an initial 95 per cent, and the transaction is expected to become effective in the following weeks, the company said in a statement. Cemex plans to sell US$500 of new 9.5 per cent senior notes due in 2018 as part of the exchange. ...

Oyak Cement to sell stake in Aslan Cemento, Turkey

10 September 2012, Published under Cement News

Military-run business conglomerate Oyak Cement announced on Friday it had applied to the Central Registry Agency to sell an almost 10 per cent stake in subsidiary Aslan Cemento. Oyak owns a 96.85 per cent stake in Aslan and in the announcement it said it would sell 7.18 million units of stake out of a total 70.7 million it holds on the Istanbul Stock Exchange. (Source: Reuters)

Huaxin sees 82.3 per cent slide in 1H12 net profit, China

06 September 2012, Published under Cement News

Huaxin Cement said net profit for the first half of 2012 fell 82.3 per cent YoY to CNY95.92m (US$15m). Operating revenue slid 1.53 per cent YoY to CNY5.49bn with basic earnings per share of CNY0.1. Huaxin Cement is 41.6 per cent controlled by Holcim. Last year, the Chinese producer continued its acquisition policy and purchased three works in the Hubei province with a combined capacity of 5Mta, giving Huaxin Cement a capacity of 58.5Mta which has increased further since year end.

FLSmidth strengthens customer services footprint in Australia

05 September 2012, Published under Cement News

FLSmidth signed an agreement to acquire the two Australian service companies MIE Enterprises Pty Ltd. and Mayer Bulk Pty Ltd. The parties have agreed not to disclose the value of the transactions.   The two acquisitions will complement FLSmidth's regional Customer Services set-up with a highly skilled workforce and full-service capabilities. The key markets of the two companies are currently the Australian and South East Asian mining industries.   MIE Enterprises Pty Ltd. and Mayer Bulk Pty ...