Cement News tagged under: Mergers and Acquisitions

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Dalmia Bharat ready to acquire Kalyanpur Cement

30 January 2018, Published under Cement News

Dalmia Bharat is set to acquire bankrupt Kalyanpur Cement after lenders have approved a debt resolution plan, reports the Economic Times. Dalmia outbid other companies like JSW Cement, JK Lakshmi and Star Cement, in a resolution which may exceed INR3.5bn (US$54.92m). Although the National Company Law Tribunal (NCLT) have not yet approved the acquisition, a decision is expected within the coming days. "The debt resolution assumes significance as the company is based out of Bihar, where the...

Restructuring to re-energise South Korean market

26 January 2018, Published under Cement News

South Korea's cement market took a further step towards consolidation this week when Asia Cement acquired Halla Cement for US$723m. This added 7.6Mta to Asia Cement's capacity and made it the third largest cement producer in the country. Asia Cement fought off bids from three other interested companies to secure the former Lafarge business and initially six investors had expressed an interest to buy Halla Cement. 
 "Upon acquiring Halla Cement, Asia's share in the local market would ...

CRH Ciment SA and Comnord SA accepts Romania’s Competition Council fine for unauthorised merger

16 January 2018, Published under Cement News

CRH Ciment and Comnord SA have been retrospectively fined RON3,056,314 (US$802,409) by Romania’s Competition Council for the implementation of a merger carried out before receiving the council's authorisation. In its analysis of a recent transaction, through which CRH Ciment SA became the sole shareholder of CRH Comnord SA, the Competition Council found that a previous operation had not been notified and authorised according to current rules, which prohibits mergers without notification a...

Lafarge Africa to sell SA unit?

05 January 2018, Published under Cement News

Lafarge Africa could put up its South African unit for sale, according to analysts at Exotix Capital. Proceeds of the sale could then be used to strategically shore up and stabilise the company’s Nigerian business, kickstarting the region’s merger and acquisition activity. The South African cement sector has become increasingly competitive while in the rest of Africa, PPC, Lafarge, Dangote, Bamburi and Twiga Cement are seen consolidating their markets. In addition, Chinese investors have ...

CRH

03 January 2018, Published under Cement News

Having started a process of due diligence, CRH has decided not to proceed with a bid for the African cement producer Pretoria Portland Cement.

Cementos Molins reduces price for LafargeHolcim Bangladesh to US$62m

28 December 2017, Published under Cement News

Cementos Molins (Spain) has reduced the purchase price for LafargeHolcim Bangladesh to US$62m, compared to the US$117m originally announced in December 2016 for 100 per cent of the company, which owns three cement grinding units in the Asian country. The acquisition relates to the ongoing restructuring of Lafarge and Holcim assets in Bangladesh following the LafargeHolcim merger. Cementos Molins was previously a joint venture partner in Bangladesh with Lafarge.

China National Building Materials (CNBM)

18 December 2017, Published under Cement News

The proposed takeover of China National Materials (Sinoma) by China National Building Materials (CNBM) has been given the green light by shareholders of the two companies. The two firms agreed to combine in September this year as part of a wider amalgamation of their biggest shareholders – the central government-run China National Building Material Group and China National Materials Group. The deal comes in response to Chinese government plans to streamline its giant state firms and end w...

LafargeHolcim withdraws from further talks with PPC

14 December 2017, Published under Cement News

LafargeHolcim has ended talks with South Africa’s PPC about a potential deal, said the Swiss cement producer in a brief statement. The step comes only a day after Canada’s Fairfax Africa Investments Proprietary Ltd pulled out its attempt to buy 23 per cent of the South African cement producer and a week after CRH exits talks with PPC.

CRH exits PPC talks but LafargeHolcim discussions continue

07 December 2017, Published under Cement News

Irish cement producer CRH has decided to pull out of the process to bid for rival PPC, the South African company said on Thursday. Last month, CRH made an undisclosed cash bid for PPC and had been given time for due diligence and to submit an updated bid, but CRH has now opted to drop its interest in PPC. "CRH has decided not to submit an updated expression of interest and therefore considers it appropriate to withdraw from the Independent Board’s process," PPC said in a statement. In...

LafargeHolcim

04 December 2017, Published under Cement News

LafargeHolcim's subsidiary Lafarge Africa has bought out the minority shareholders in Ashaka Cement and has issued 85.26m shares as part of a share exchange agreement.