Cement News tagged under: Semapa
CRH transfers Secil shares to Semapa, Portugal16 May 2012, Published under Cement NewsCRH has transferred its 49% shareholding in Secil, the Portuguese cement producer, to Semapa, its former joint venture partner, the Irish-based building materials company said in a statement. The transfer is pursuant to a call option exercised by Semapa and confirmed by an award issued by an Arbitral Tribunal in Paris, functioning under the Rules of Arbitration of the International Chamber of Commerce (ICC), at a valuation of €574m. The net proceeds received by CRH amount to €564.5m and re... |
CRH: Semapa intends to acquire CRH's 49% in Secil26 April 2012, Published under Cement NewsCRH reported that Portuguese conglomerate Semapa will acquire the company’s stake in their cement and ready mixed concrete joint venture Secil next month. In August last year an Arbitral Tribunal in Paris, functioning under the Rules of Arbitration of the International Chamber of Commerce (ICC), decided that CRH and Semapa were obliged to complete the sale and purchase of CRH’s 49% shareholding in Secil at an equity price of EUR574m. In accordance with this ruling, Semapa has notified ... |
CRH05 April 2012, Published under Cement NewsCRH's annual report shows cement sales of 15.3Mt for last year, made by subsidiaries and associates in Europe and Asia. This amount includes CRH's share of Secil in Portugal, which an arbitration court has ruled CRH must sell to majority shareholder Semapa. However, negotiations between CRH and Semapa appear still to be on-going. |
Semapa announces Brazil investments19 March 2012, Published under Cement NewsSemapa, a Portuguese holding company that controls cement maker Secil, will invest about EUR300m (US$394m) in Brazil’s cement industry, Diario Economico reported, citing the prospectus of Semapa’s bond sale. Semapa will invest about EUR240m in a new plant in Brazil after it agreed to buy a 50 per cent stake in Supremo Cimento SA, the Portuguese newspaper said, citing the document for the planned sale of as much as EUR150m of Semapa bonds. (Source: Bloomberg) |