Cement News tagged under: Mergers and Acquisitions

RSS feed

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.

Chile's Briones family hikes Bío Bío stake

28 November 2017, Published under Cement News

The Briones family has decided to acquire a further 13.1 per cent stake in Cementos Bío Bío SA from Votorantim for more than CLP29bn (US$45.5m), according to Chilean daily La Tercera. This purchase would bring the Briones stake to 39.52 per cent, making it the largest shareholder in the Chilean cement producer, followed by a 19.03 per cent stake held by other members of the Briones family. Citing informed sources, La Tercera reported that Votorantim had approached the Chilean business...

China National Building Materials (CNBM)

27 November 2017, Published under Cement News

China National Building Materials (CNBM)’s proposed merger with China National Materials (Sinoma) has been given approval by the South Korean Fair Trade Commission. The merger, which was announced in September this year, has also been approved this month by China’s State-Owned Assets Supervison and Administration Commission (SASAC). SASAC, a special commission directly under the State Council, is responsible, among other things, for approving mergers and drafting laws related to China’s ...

UltraTech Cement

27 November 2017, Published under Cement News

UltraTech Cement is one of an estimated 15 companies expressing an interest in purchasing Binani Cement, an Indian cement producer facing bankruptcy. Part of the largest BRAJ Binani Group, Binani Cement is no insignificant player with 11.3Mta of production capacity across India, China and UAE. However, oversupply remains a challenge in India and bidders are now circling for this latest asset up for grabs. Along with UltraTech Cement, CRH, LafargeHolcim, HeidelbergCement, Orient Cement and...

PPC board rejects Fairfax offer

24 November 2017, Published under Cement News

The board of PPC has advised its shareholders not to accept the offer of Fairfax Africa Investment Pty Ltd to buy a stake in the South African cement producer. The company will continue talks with LafargeHolcim and CRH on the sale. The Takeover Regulation Panel has extended the deadline for the Fairfax offer to 12 December 2017, according to the cement producer’s board. Fairfax has signalled its intention to make an offer to acquire ordinary shares representing ZAR2bn (US$144.1m) of PPC’s...