Cement News tagged under: acquisition
Fairfax drops plans to buy 23% of PPC12 December 2017, Published under Cement NewsCanada's Fairfax Africa Investments Proprietary Ltd has pulled out of its attempt to buy 23 per cent of South African cement producer PPC for ZAR2bn (US$146.34m), PPC said on Monday. "On 8 December 2017, the Independent Board received Fairfax's formal notification that it will not proceed with the partial offer and that, accordingly, the Fairfax partial offer circular will not be posted to PPC shareholders," PPC said in a statement. Fairfax offered to buy 23 per cent of PPC in September... |
Apollo Asia invests in Steppe Cement08 December 2017, Published under Cement NewsApollo Asia Fund Ltd has acquired 11.2m shares, representing 5.13 per cent of the issued share capital of Steppe Cement Ltd, which produces construction materials in Kazakhstan. Steppe said it was "pleased" to have the new significant shareholder, which is managed by Apollo Investment Management. Shares in Steppe Cement were down 0.3 per cent at GBP0.2094 on Friday. |
Ashaka Cement approves Lafarge Africa's acquisition deal31 October 2017, Published under Cement NewsShareholders of Ashaka Cement Plc have approved the complete acquisition of the company by Lafarge Africa, in a deal with a cash consideration of NGN604.092m (US$16.8m) and total value of NGN5.97bn. The shareholders of Ashaka Cement agreed to allow Lafarge increase its stake in the company from 86.51 per cent to 99.99 per cent. However, the deal is subject to approval by the regulatory authorities, said Ashaka Cement. Meanwhile, Ashaka Cement Plc's energy strategy has helped it gr... |
Jinyuan Cement approves environmental technology company acquisition25 October 2017, Published under Cement NewsJinyuan Cement Co Ltd company has approved of its subsidiaries acquisition of Shanghai Huayu Environmental Technology Co Ltd. Directors of Jinyuan Cement approved Golden Circle Cement Co Ltd's acquisition of the technology company. Through Golden Circle Cement Co Ltd, Jinyuan Cement Co now has a 51 per cent stake in Shanghai Huayu Environmental Technology. The acquisition was made to speed up the pace of environmental development strategy, and actively promote the cement kiln co-processi... |
Thomas Gruppe to buy Gebr Seibel Zementwerke13 October 2017, Published under Cement NewsThomas Gruppe (revenues estimated at EUR300m) confirmed on Thursday 12 October 2017 that it was taking over Portland-Zementwerke Gebr Seibel GmbH & Co KG, in Germany, a family-run business headed by Heinrich and his son Hubertus Seibel. Gebr Seibel Zementwerk has encountered problems due to discount requirements of its main client, Cementbouw (CRH group), ie roughly 120,000t out of 600,000t produced annually. CRH demanded to be supplied based on a cut-rate price per tonne (EUR42/t). T... |
Summit Materials revealed as US$3.8bn bidder for Ash Grove Cement09 October 2017, Published under Cement NewsUS cement maker Summit Materials has been revealed as the US$3.8bn bidder for Ash Grove Cement, according to a Reuters' source. The bid was submitted last week to trump an earlier takeover bid from Irish building materials firm CRH Plc. Ash Grove said earlier on Friday that it had received a new bid from an unnamed party which valued the business at US$3.7-US$3.8bn . The source said Summit Materials’ bid was submitted on Thursday and is currently being considered by Ash Grove’s board... |
Ash Grove Cement receives US$3.8bn takeover proposal06 October 2017, Published under Cement NewsCRH noted that an announcement by Ash Grove yesterday that the period for obtaining shareholder approval has been extended for its proposed acqusition. US cement maker Ash Grove Cement Co said on Thursday it received a larger takeover proposal valued at up to US$3.8bn, surpassing an earlier offer from Irish building materials firm CRH Plc. CRH said last month it agreed to buy Ash Grove for a total consideration of US$3.5bn. Ash Grove said the new bid valued at US$3.7-US$3.8bn was expected t... |
Pioneer Cement to acquire Galadari Cement06 October 2017, Published under Cement NewsPioneer Cement Company Ltd (PIOC) in a stock filing informed that it has signed a Memorandum of Understanding with sponsors of Galadari Cement (GULF) Ltd (GCGL) to acquire 100 per cent stake of the company. GCGL was incorporated in 1980 with acquisition of land at District Hub, in Baluchistan province of Pakistan, while formal construction of plant had begun during 1998. The plant's main equipment was procured from European manufacturers. However, due to legal and inheritance issues the ... |
CRH said to be closing in on Suwanee America acquisition03 October 2017, Published under Cement NewsCRH Plc is nearing an agreement to acquire Florida-based cement company Suwannee American Cement LLC from Votorantim Cimentos SA and Anderson Columbia Co, according to Bloomberg. The companies could announce an agreement this week, acording to the news seervice cources. The deal may value Suwannee at about US$750m. While talks are advanced, they could still be delayed or fall apart and the valuation could change. The planned acquisition follows a string of deals for CRH, which last month a... |
Summit Materials could be swept up in US consolidtion trend02 October 2017, Published under Cement NewsAs the cement sector continues to consolidate, the number of potential targets with values of more than US$1bn (EUR842m) will continue to fall and quite possibly, Summit Materials will see its position change from being an acquirer of companies - to being a target, reports the Sunday Independent. Follwing, CRH's recent move to acquire US company Ash Grove Cement for US$3.5bn and Martin Marietta's US$1.6bn (EUR1.3bn) payment for Bluegrass Materials, a leading aggregates company, investo... |