Cement News tagged under: Mergers and Acquisitions

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Nalanda Capital cuts stake in Shree Cement, India

09 October 2012, Published under Cement News

Nalanda Capital has sold around half of its holding (3.25%) in Shree Cement. The fund sold around 1.61 per cent or 561316 shares for INR3800.84 per share, aggregating around INR213.33 crore through bulk deal on the Bombay Stock Exchange. Nalanda Capital made around 2x returns from this share sale. It invested in the company between June and September 2011 when the prices were hovering between INR1600-1800 crore.

Siam Cement partial tender offer for Siam Global

05 October 2012, Published under Cement News

Siam Cement PCLsaid it will launch a tender offer to purchase around a third of building materials distributor Siam Global House PCL from 5 October to 9 November, according to a filing to the Stock Exchange of Thailand Thursday. Siam Cement, Thailand's largest industrial conglomerate by sales, announced in late August a plan to acquire up to 33.40 per cent in Siam Global House through its wholly owned unit, SCG Distribution, for about THB10bn ($326.2 million). The investment includes the...

FLSmidth acquires market-leading technology for unmanned operation

03 October 2012, Published under Cement News

FLSmidth has acquired the market-leading technologies and products related to unmanned operation and process optimisation of stackers/reclaimers and train loading systems from the German company iSAM AG.   The technologies and products acquired will enable FLSmidth to offer and supply complete, unmanned integrated bulk handling solutions to mining, stockyard and port facility customers in line with FLSmidth's One Source strategy.   Application of unmanned operation will support FLSmidth's cu...

PPC clears second phase of BEE deal, South Africa

02 October 2012, Published under Cement News

South Africa-based Pretoria Portland Cement (PPC) said on Friday that all conditions set for the ZAR1.1bn (US$131.7m) second phase of its broad-based black economic empowerment (BEE) transaction had been fulfilled. The deal, which was announced in July, will give the cement and lime producer an effective 26 per cent black ownership, as required by the mining charter, enabling it to convert its old order mining rights to new order rights. The first phase of the deal in 2008 resulted in 1...

Lafarge divests in US assets to Eagle, market improves

01 October 2012, Published under Cement News

Last week, Lafarge announced the disposal of two cement works and a network of ready-mix concrete plants in Missouri and Oklahoma, USA, to Eagle Materials Inc, adding US$446m (EUR344m) to its coffers. With the deal, Eagle Materials acquires the 1Mta Kansas City (MO) and the 0.6Mta unit in Tulsa (OK) as well as related distribution terminals, two aggregate quarries, eight ready-mixed concrete businesses and a fly ash firm. The move is seen by some as a win-win for both parties. Eagle secures...

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 ...