Cement News tagged under: asset sale
CNBM begins restructuring cement business05 March 2021, Published under Cement NewsChina National Building Materials (CNBM) has begun restructuring its cement business and has subsequently sold China United Cement, Sinoma Cement, as well as a 99.9 per cent stake in South Cement and a 95.7 per cent stake in Southwest Cement, to its Xinjiang Tianshan Cement subsidiary for a total consideration of CNY88.25bn (US$13.64bn). Tianshan Cement will issue 442,343,026 consideration shares for the amount, alongside a cash consideration of CNY3.97bn. CNBM will have an 87.5 per cent... |
Eurocement begins auction for 84.2% stake in plant01 March 2021, Published under Cement NewsRussia's Eurocement has begun an open auction to sell an 84.19 per cent stake in its Akhangarancement plant in Tashkent, Uzbekistan. The company is expected to sell 4,141,108 ordinary shares of the plant for a total value of UZS428.99bn (US$40.76m), according to a statement on the Republican Stock Exchange Tashkent. |
Asia Cement to purchase additional stake in Chiahui Power11 September 2020, Published under Cement NewsJapan-based Electric Power Development Co, also known as J-Power, is planning to sell its entire stake in Chiahui Power to Taiwan’s Asia Cement for TWD5.37bn (US$183m). The share sale is subject to the approval of Taiwan’s authorities. Asia Cement, by purchasing the 39.97 per cent share, will raise its stake in Chiahui Power to 99.7 per cent. J-Power initially acquired the Chiahui Power shares from Asia Cement in 2002 and invested around JPY8bn (US$7m) into the firm, making it its lar... |
ARM Cement's Kenyan assets sold to National Cement22 May 2019, Published under Cement NewsThe Kenyan assets of ARM Cement have been sold to National Cement Co for US$50m, according to a statement by its administrators. The transaction is subject to regulatory approvals. The company was placed under administration last year by some of its creditors over what has been reported to be a US$190m debt. The news follows PriceWaterhouseCoopers starting preparations to dispose of ARM’s stake in South Africa’s Mafikeng Cement for KES300m (US$2.974m) in early April. |
Arkan sells Emirates cement plant15 February 2019, Published under Cement NewsUAE-based Arkan Building Materials has announced the sale of its Emirates cement plant for AED50m (US$13.6m). The company also noted the permanent shutdown of Emirates Cement Co. Arkan has already received AED21.9m of the total amount, recognised in its 2018 financials as other income. The company’s main operations are based at its separate 4.5Mta facility in Al Ain. |
HeidelbergCement reportedly considers selling Ukrainian assets11 February 2019, Published under Cement NewsHeidelbergCement is reportedly considering the sale of its assets in Ukraine, according to Interfax-Ukraine. "HeidelbergCement is selling its assets in Ukraine. The deal is to be held in March-April of this year. The buyer will be the Ukrainian investment group Concorde Capital," said a source for the news agency. HeidelbergCement Ukraine owns three plants in the country – Kryvyi Rih, Kamyanske and Amvrosiyivka. As yet, the company has not commented on the alleged sale. |
HeidelbergCement updates on portfolio optimisation15 January 2019, Published under Cement NewsHeidelbergCement has reported that it closed the divestment of its 50 per cent share in Ciment Québec and its minority participation in Syria in December 2018. In addition, a former cement plant area in the Cairo metropolitan area, Egypt, has been auctioned and the divestment of its Ukrainian business has been signed. The closure of both the latter transactions is expected to occur in 2019. These divestments have a total value exceeding EUR150m and is expected to have a slightly positive e... |
BBMG to sell 7 cement companies to Jidong Cement10 January 2019, Published under Cement NewsBBMG Corp has announced that it will sell the entire equity interests in seven cement companies to China’s Jidong Cement for a total consideration of CNY1.54bn (US$227.06m). BBMG and Jidong have also agreed to contribute CNY1bn to the registered capital of their joint venture, BBMG Jidong Cement (Tangshan) Co Ltd. According to a statement, the agreements are to resolve issues of competition between the two companies. |
Cementos Bío Bío sells Peruvian subsidiary11 October 2018, Published under Cement NewsChile’s Cementos Bío Bío has sold its Peruvian subsidiary, Cementos Portland, in a transaction valued close to US$14m, according to La Tercera. The departure means that it will no longer be participating in a project with Brazil’s Votorantim Cimentos to construct a plant in Lima, which has reportedly faced a number of difficulties concerning market rivals. A further two projects that the company had planned in Peru, one concerning cement and the other lime, will remain unfulfilled after th... |
Helwan Cement to sell white cement plant11 September 2018, Published under Cement NewsEgypt’s Suez Cement has announced that its subsidiary, Helwan Cement Co, has entered into an agreement with Emaar Industries to sell its 1Mta white cement plant in Minya Governorate. The transaction is expected to take place after the facility is de-merged from Helwan Cement. The sale is part of the company’s restructuring strategy to improve its financial position. |