Cement News tagged under: auction

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First stage of Eurocement e-auction to close

15 March 2021, Published under Cement News

The first stage of trading of the e-auction for 100 per cent of Eurocement’s shares  that  began on 18 February 2021  ends today (15 March 2021). Based on the results of the first stage, a list of participants will be formed and they will be invited to bid within the framework of the second trading session that will result in a winning investor in early April. The deal includes Sberbank's claims to Eurocement under credit and other agreements, 100 per cent of shares in GFI Investmen...

Eurocement's shares put up for auction

18 February 2021, Published under Cement News

Sberbank has put 100 per cent shares of Eurocement up for an electronic auction,  including about RUB70bn(US$958m) of debt obligations. Sberbank is looking for a public buyer for the shares and is expected to write off part of the debt. Sberbank is the largest bank in Russia, central and Eastern Europe. An open electronic auction was launched on 18 February 2021.  The Auction House of Russia is the organiser and is providing an electronic platform where the selection of an investor will...

Kigali Cement plant auction postponed

26 September 2018, Published under Cement News

The auctioning of Kigali Cement’s plant in Nyarugenge, Rwanda, has been postponed, allowing more time for talks between the involved parties. The sale was being made to allow the company to pay its creditors, Rwanda Enterprise Investment Company (REIC). However, Kigali Cement and REIC have now agreed to hold talks, according to Aloys Bizimana, court baliff in charge of the auction. "We can postpone one, two or three times but we cannot continue [to postpone the auction] forever. We have ...

Kigali Cement plant to go under auction

24 September 2018, Published under Cement News

Kigali Cement plant will again go under the auction hammer tomorrow, Tuesday, when owner Athi River Mining Cement Ltd (ARM) looks to see the plant meet its valuation. Located in Gitikinyoni area of Nyarugenge district of Rwanda, the grinding plant has a cement capacity of 0.1Mta. Bidders failed to meet the valuation of the plant in the previous auction. "The only bid RWF100m (US$113m) and it was rejected because it was far lower then the 70 per cent of the RWF1.27m, the market value of the...

Coal India notifies coal e-auction

22 June 2018, Published under Cement News

India’s cement producers, along with other sectors such as the captive power industry, will be able to take part in the fourth auction round of coal linkages, Coal India Ltd (CIL) announced. Some 57Mt of coal were put on offer in the three previous rounds that have taken place since June 2016. The auction is conducted by MSTC Ltd. The entire process of allocating linkages in this way is the result of a decision taken by the India’s Cabinet Committee on Economic Affairs two years ago. The...