Cement News tagged under: divestment

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Cemento Melón to sell concrete products business

07 May 2020, Published under Cement News

Cemento Melón has announced it will divest its concrete products business and has signed an agreement with Grau SA to sell 49 per cent of its concrete prefabrication shares. The divestment will enable the Chilean cement producer to wholly focus and strengthen its key businesses of cement, concrete and sand. Pedro Grau of Grau SA said the company “understood the strategic decision of Melon to relinquish its stake, a step that is lamentable as we value the permanent contribution of its direct...

Eagle Materials sells non-core concrete and aggregates assets

20 April 2020, Published under Cement News

Eagle Materials Inc announced it has sold its Western Aggregates and Mathews Ready Mix operations for US$93.5m to Teichert, a California-based construction company. Western Aggregates vested-rights-to-mine covers 3900 acres and includes over 900Mt of aggregates. Mathews Ready Mix assets include three concrete batch plant locations and 26 trucks.  Michael Haack, Eagle Materials president and CEO, said: “This transaction represents the sale of non-core assets on the heavy-side of our com...

Cemex and Buzzi Unicem complete Kosmos Cement sale to Eagle Materials Inc

09 March 2020, Published under Cement News

Cemex has divested its 75 per cent share in its partnership with Buzzi Unicem of Kosmos Cement in Louisville, Kentucky, USA, to Eagle Materials Inc. The divestment is for an aggregate amount of US$665m, of which Cemex will receive approximately US$499m. Meanwhile, Buzzi Unicem has sold its 25 per cent share in Kosmos Cement to Eagle Materials Inc. The deal includes the divestment of the Louisville cement plant and seven terminals and raw material reserves.

Breedon shareholder plans to sell up to 8.3% stake

07 November 2019, Published under Cement News

Breedon Group Plc shareholder M1 Cement Holding Ltd plans to sell up to 8.3 per cent of the company’s issued share capital via a secondary placing, according to brokerage JP Morgan Securities Plc. M1 Cement plans to sell up to around 139.7m shares in the British construction-materials company. The price of the placing will be determined through an accelerated bookbuild process to institutional investors, the brokerage said. Breedon shares closed 0.6 per cent higher at 65.40 pence on Tue...

UltraTech Cement

26 September 2019, Published under Cement News

UltraTech Cement, part of the Aditya Birla Group, is close to finalising the deal to sell its stake in Emirates Cement Bangladesh to HeidelbergCement Bangladesh Ltd. The price of the stake has reportedly been set at US$32.1m. UltraTech first produced cement in Bangladesh following Aditya Birla’s acquisition of ETA Star Cement in 2010, when it bought into ETA’s Bangladeshi subsidiary, Emirates Cement, which operates a 0.5Mta grinding plant in Dhaka. HeidelbergCement Bangladesh Ltd has two ...

Cementos Argos

27 June 2019, Published under Cement News

Cementos Argos is selling its entire stake in Omya Andina for COP62,700m (US$19.6m). Omya Andina is a subsidiary of Switzerland’s Omya AG, a leading producer of calcium carbonate and worldwide distributor of specialty chemicals for use in the construction industry. According to Cementos Argos, the move forms part of its value creation and investment targeting strategy in cement, concrete and aggregates.  “This operation is part of the program of efficiency allocation of resources that, th...


27 June 2019, Published under Cement News

PPC, the majority shareholder in Cimerwa cement, is considering buying the Rwandan government’s stake in the company. PPC has held a 51 per cent share in Cimerwa since 2012. The Rwandan government has a 16.54 per cent share, held through Agaciro Development Fund, Rwanda’s sovereign wealth fund. Other shareholders include the Rwanda Social Security Board (20.24 per cent), Rwanda Investment Group (11.45 per cent) and Sonarwa Group (0.76 per cent).  The government has set the deadline of 5 J...

Baticim puts Batisoke stake of up to 75% for sale

14 June 2019, Published under Cement News

Baticim, part of the Turkey-based Bati Anadolu Group, is looking to sell a stake of up to 75 per cent in Batisoke, according to a Reuters report citing a source close to the process. Unlu & Co financial services group has been appointed to handle the sale, for which interested parties should complete due diligence for binding and non-binding offers in July to September. Batisoke is reportedly forecast to make EBITDA of US$14m in the FY19-20. In the first quarter, the company posted a net...


04 June 2019, Published under Cement News

LafargeHolcim has agreed the sale of its 51 per cent-owned subsidiary Lafarge Malaysia to YTLCement Berhad for US$396m, a 43 per cent premium to the latest share price before the deal was announced. The sale includes the 91 per cent-owned subsidiary Holcim Singapore Pte Ltd. Lafarge Malaysia operates three integrated cement works and two grinding centres. Completion of the deal was achieved on 17 May 2019. In the first quarter Lafarge Malaysia lost MYR32.07m (US$7.64m), compared with a loss ...

UltraTech Cement

22 May 2019, Published under Cement News

Following its acquisition of Binani Cement, UltraTech Cement is now looking to sell the 3Mta integrated cement plant in China and 2.5Mta grinding plant in UAE it inherited as part of the deal. Prior to the agreement with UltraTech, Binani had tried to sell its 90 per cent stake in the Chinese plant but was unsuccessful. Finding a buyer for the UAE grinding works is also expected to be difficult due to overcapacity in the country. Meanwhile, UltraTech is pushing ahead with its plans to est...