Cement News tagged under: divestment
LafargeHolcim02 August 2016, Published under Cement NewsLafargeHolcim has agreed to sell Lafarge India to the Indian conglomerate Nirma Ltd for around US$1400m. It will be Nirma’s first investment in the cement sector and comes in spite of a marginally higher offer from a Chinese cement producer. The deal involves three cement works and two grinding centres with a combined capacity of some 11Mt and is also one of the largest ready-mixed concrete producers in India. The disposal of some cement operations were demanded by the competition authoritie... |
Italcementi02 August 2016, Published under Cement NewsItalcementi’s subsidiary Ciments Français has agreed to the sale of its subsidiary Compagnie des Ciments Belges (CCB) and its subsidiaries to the Cementir subsidiary Aalborg Portland Holding for EUR312m. CCB has a cement works at Gaurin in the province of Tournai. Last year’s production amounted to 1.8Mt of cement, 4.8Mt of aggregates and 0.8Mm³ of ready-mixed concrete, generating a turnover of EUR180m. Italcementi's first-half turnover declined by 2.1 per cent to EUR2122.6m and running E... |
Siam City Cement to acquire Holcim Lanka25 July 2016, Published under Cement NewsSiam City Cement (SCC) has signed a deal to buy Sri Lankan cement company Holcim Lanka Ltd for US$400m. The acquisition will turn SCC into the market leader in Sri Lanka. SCC is anticipating that the acquisition of the 98.95 per cent stake in Holcim Lanka will be completed within two weeks of the date of agreement, while LafargeHolcim have said the transaction will be completed in 3Q16. SCC will use credit facilities from Bank of Tokyo-Mitsubishi UFJ to fund the purchase. This latest ... |
China National Building Materials (CNBM)22 July 2016, Published under Cement NewsAll eyes will be back on China National Building Materials (CNBM) as the country announces the latest deal in its drive to consolidate its cement sector. Beijing-based cement producer and building materials supplier, Beijing Building Materials Group (BBMG) Corporation is planning to sell stakes in 31 cement-related units to Jidong Cement. The deal is reported to be worth US$2.3bn. As part of the company restructuring following the transaction, Tangshan Jidong Cement will become a unit of BBM... |
Semen Indonesia to sell 49% stake in unit13 June 2016, Published under Cement NewsIndonesia's largest cement producer, Semen Indonesia, plans to sell a 49 per cent stake in one of its units to help fund the company's future expansion, according to Investor Daily quoting the firm’s Finance Director, Darmawan Junaidi. The strategic investor will hold the stake for a limited period, tentatively 10 years. However, which subsidiary's stake will be sold remains currently undisclosed. Semen Indonesia has four subsidiaries – PT Semen Gresik, PT Semen Padang, PT Semen Tonasa and... |
Cemex02 June 2016, Published under Cement NewsCemex has completed the sale of its operations in Thailand and Bangladesh to Siam City Cement for some US$53m. These operations consist of an integrated cement works near Bangkok with a capacity of 0.6Mta and a grinding centre at Nagarangonj in Bangladesh with a capacity of 0.52Mta. |
Creditors seek to sell Hyundai Cement stake24 May 2016, Published under Cement NewsCreditors of Hyundai Cement seek to sell their majority stake in the South Korean cement producer as early as July, according to local news reports. State-run Korea Development Bank (KDB), the largest stakeholder of Hyundai Cement with a 27.94 per cent stake, and other creditor banks including KEB Hana Bank hold a combined 95 per cent stake. The speeding up of the sales process comes as uncertainties over the cement maker’s payment guarantee in the Pi City development project have bee... |
Cemex intends to reduce its US exposure to reduce debt03 May 2016, Published under Cement NewsIn a further effort to reduce its high gearing, which stood at 180.1 per cent at the end of March, Cemex has agreed to sell assets worth US$400m to a US subsidiary of the Mexican Grupo Cementos de Chihuahua. The deal includes two cement plants – a 0.76Mta integrated plant in Odessa, Texas and a 0.57Mta integrated plant in Lyons, Colorado – as well as three cement terminals and building materials businesses in Texas and New Mexico. Plans are in hand, however, to increase the capacity o... |
LafargeHolcim’s US$3bn spin-off in the making?30 March 2016, Published under Cement NewsLafargeHolcim is reported to have chosen Citi and JP Morgan to explore the sale of its US$3bn Australasian operations, according to the Business Spectator. The news follows Dataroom’s disclosure that the company had been considering a potential spin-off of its Australian and New Zealand assets. The move would help to pay for the US$50bn global merger of Lafarge and Holcim in 2014. Both Citi and JPMorgan are understood to be among the banks funding that transaction at the time, and whil... |
LafargeHolcim02 February 2016, Published under Cement NewsLafargeHolcim is considering the possible sale of the 97.1 per cent-owned South Korean subsidiary Lafarge Halla Cement to a consortium consisting of Glenwood Private Equity, Eugene Group and Sungshin Cement. Eugene Group is the largest ready-mixed concrete producer in South Korea and also produces slag cement, while Sungshin Cement third-largest cement producer in South Korea with a capacity of 9.7Mta from one integrated works and two grinding centres. Lafarge Halla Cement is the fourth-l... |