Cement News tagged under: Mergers and Acquisitions

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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...

Karsdorf Cement plant sale to be abandoned

20 November 2017, Published under Cement News

Schwenk KG has abandoned its plans to acquire Opterra’s cement plant in Karsdorf, according to a press release by the Bundeskartellamt (Federal Cartel Office - FCO). The withdrawal of the notification also includes the purchase of the cement plant in Sötenich. "The merger was expected to significantly impede effective competition and would have had to be prohibited. With the acquisition of the plant in Karsdorf Schwenk would have gained a dominant position as a cement manufacturer in the ...


01 November 2017, Published under Cement News

The shareholders of Ash Grove Cement have now approved the take-over by CRH, adding eight cement works, 52 batching plants and 45 aggregates extraction sites. The potential alternative offer for Ash Grove suggested by Summit Materials did not occur.


01 November 2017, Published under Cement News

October has seen the saga over PPC’s future continue to dominate the headlines. Last month saw AfriSam submit a merger deal, backed by Toronto-based Fairfax Financial Holdings. However, Prudential Investment Managers, which holds a 13-14 per cent stake in PPC, opposed the merger saying that the AfriSam deal undervalued PPC and that PPC’s share price would double in the next 3-4 years as operations across Africa ramp up. Visio Capital Management, which has a seven per cent share in PPC, th...

China National Building Materials (CNBM)

01 November 2017, Published under Cement News

China National Building Materials Group (CNBM) is in talks to integrate some of its 15 subsidiaries. The move follows the announcement in September this year of the merger between CNBM and China National Materials Group, another state-owned building materials player, also known as Sinoma. Of the 15 subsidiaries in question, three are listed overseas. T he aim of the merger is to consolidate and strengthen the core business of each subsidiary, boosting profitability and maximising their va...

Dangote Cement group increases revenues by 37% in 9M17

20 October 2017, Published under Cement News

Dangote Cement’s overall group revenue increased by 36.5 per cent from NGN442.1bn (US$1.08bn) in the first 9M16 to NGN603.6bn in 9M2017, despite a 10.1 per cent fall in group cement volumes to 16.5Mt, as the impact of price increases dampened demand in Nigeria. The group’s profit for the period was NGN193.1bn, up 44.6 per cent compared to NGN133.5bn in 2016. “Dangote Cement has continued to perform strongly in 2017 with revenues up nearly 37 per cent despite a fall in volumes. In our key ...

PPC is a new target for CRH

13 October 2017, Published under Cement News

CRH is among companies considering a counterbid for PPC that could trump an offer by Canada’s Fairfax Financial Holdings, according to Bloomberg sources. PPC’s future has been considering a merger with rival AfriSam Group failed and Toronto-based insurer Fairfax made a partial offer for ZAR2bn (US$149.5m) of PPC stock at ZAR5.75/share. PPC has a market value of ZAR11bn (€689m). Fairfax’s offer is conditional on PPC merging with AfriSam, and the South African company has appointed Invest...