Cement News tagged under: divestment
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... |
Addoha reportedly to sell 30% African stake to HeidelbergCement26 January 2016, Published under Cement NewsIt has been reported that the Moroccan Addoha Group will sell 30 per cent of its African assets to HeidelbergCement, according to local news sources. The value of the transaction is estimated at around MAD2bn (US$202m). When contacted, HeidelbergCement declined to comment. Following the construction of two cement plants in its home market of Morocco (Ben Ahmed and Beni Mellal), the Addoha Group has rapidly expanded its activities in Africa, launching subsidiary Ciments de L'Afrique (CIMAF... |
Italcementi05 January 2016, Published under Cement NewsThe board of Italcementi has decided to sell around EUR241m worth of assets to Italmobiliare, with completion expected some time after the takeover of Italcementi by HeidelbergCement has been approved by the authorities. The assets concerned include renewable energy (Italgen), e-procurement (BravoSolution) and some property assets in central Rome. |
Cimpor05 January 2016, Published under Cement NewsCimpor recently made disposals to strengthen its capital base. It has raised EUR32m from the sale of 16 per cent of the equity in Yguazu Cementos in Paraguay, reducing its interest to 51 per cent. In addition, it has raised US$25.35m through selling the Guarulhos and Barueri quarries in the Brazilian state of São Paulo to Polimix Concreto Ltda. |
Heidelberg's European bet22 October 2015, Published under Cement NewsFollowing the completion of the LafargeHolcim merger in mid-July, less than a fortnight later, HeidelbergCement announced its intention to buy Italcementi. The acquisition would consolidate HeidelbergCement’s no 2 position in the cement industry and regain its market leadership in the aggregates sector. ICR examines the drivers behind this latest M&A activity in the cement industry. With the Italcementi acquisition, HeidelbergCement takes a punt at the forecast Mediterranean recovery ... |
Italcementi01 October 2015, Published under Cement NewsItalcementi has sold its 5.24 per cent stake in West China Cement for HKD341m (EUR38.5m). The stake had been held through CimFra (Chine) Ltd. |
Cemex02 September 2015, Published under Cement NewsCemex has agreed two separate disposals of operations in Austria and Hungary to the Rohrdorfer Group. It is anticipated that these deals will be concluded during 4Q15. Firstly, it will receive EUR160.1m from subsidiaries of Südbayerisches Portland-Zementwerk Gebr Wiesböck & Co GmbH, Rohrdorf, for 24 sand and gravel plants and 34 ready-mixed concrete batching plants in Austria as well as five sand and gravel plants, 34 ready-mixed concrete batching plants and four road stone plants in Hung... |