Cement News tagged under: Acquisition
Attock Cement Pakistan receives sales proceeds from the Iraqi plant11 September 2024, Published under Cement NewsAttock Cement Pakistan Ltd informed the Pakistan Stock Exchange (PSX) on 9 September that it had received the sales proceeds of its stake in a cement facility in Iraq. Attock Cement has completed the sale of its shareholding in its subsidiary, Saqr Al Keetan for Cement Production Co Ltd (SAKCPCL), receiving the third tranche of payment amounting to US$5.850m. This marks the final consideration against the sale of the remaining 4.5m shares held in SAKCPCL. The company is now initiati... |
Ukraine's antimonopoly committee clears CRH acquisition of Dyckerhoff Cement Ukraine06 September 2024, Published under Cement NewsThe Antimonopoly Committee of Ukraine (AMCU) has approved the deal by CRH Ukraine BV to acquire shares of PRJSC Dyckerhoff Cement Ukraine , according to an AMCU website report. The acquisition will provide the buyer with over 50 per cent of the voting shares on the PrJSC Dyckerhoff Cement Ukraine board. The AMCU also gave permission to implement the measures provided for in the purchase and sale agreement that prevent competition (Subparagraph 16.1 of Paragraph 16 of the Share Purchase a... |
Dalmia agrees to acquire 26% stake in Truere Surya04 September 2024, Published under Cement NewsIndia-based Dalmia Bharat Group said that its subsidiary Dalmia Cement (Bharat) has entered into a share subscription and share holders agreement (SSSHA) to acquire a 26 per cent stake in the equity share capital of Truere Surya. The transaction value is INR448m for 44,800,000 shares. Truere Surya will enable Dalmia Cement (Bharat) to set up a captive solar power project with a capacity of up to 128MW in Tamil Nadu. This is expected to improve the company’s renewable power supply, sup... |
Negotiations for Loma Negra sale continue despite expiration exclusivity02 September 2024, Published under Cement NewsThe potential sale of Loma Negra to CSN has entered a new phase after the exclusivity term to negotiate a deal expired on 12 August after an automatic renewal but has not been renewed since, reports Noticias Financieras. While negotiations with the Brazilian group continue, the expiry enables other companies to bid for the Argentinian cement producer. One candidate is Argentine businessman Marcelo Mindlin, owner of construction company Sacde, as he wants to vertically integrate all t... |
Cimsa to acquire Mannok for EUR330m29 August 2024, Published under Cement NewsCimsa , part of Sabanci Holdings , has reached agreement to acquire 94.7 per cent of Ireland-based cement producer Mannok for an overall enterprise value of EUR330m. The local Mannok leadership team will retain a 5.3 per cent interest. Under the agreement, which is subject to customary approvals, the Mannok brand will be retained as a growth hub for Cimsa and Sabanci in Ireland and the UK, and the business will continue to be led by local management. This agreement marks Cimsa’s thi... |
Thailand-based Ratanarak Group buys out Jardine Cycle and Carriage’s Siam City Cement stake for US$354m19 August 2024, Published under Cement NewsThe Ratanarak Group has increased its stake in Siam City Cement to 71.88 per cent by buying out Singapore-based Jardine Cycle and Carriage’s 25.54 per cent stake. The value of the transaction, carried out via Ratanarak’s subsidiary Sunrise Equity, is THB12.18bn (US$353.97m). |
Cementir acquires additional 25.4% stake in Sinai White Portland Cement13 August 2024, Published under Cement NewsCementir Holding NV announced that its fully-owned subsidiary Aalborg Portland Holding A/S has acquired an additional 25.4 per cent stake in Sinai White Portland Cement Co SAE (SWCC) from Sinai Cement Co, part of the Vicat Group . Following the EUR30m transaction, Cementir will indirectly hold 96.5 per cent of SWCC’s share capital. The investment strengthens Cementir’s strategic presence in Egypt’s white cement business. Located in the Sinai Peninsula, SWCC’s plant with a white ce... |
Holcim strengthens Peru presence13 August 2024, Published under Cement NewsHolcim has acquired Peru-based Comacsa and Mixercon for a total value of US$100m. Comacsa is the country’s leading producer of industrial minerals and white cement. Founded in 2001, Mixercon is active in the production, marketing of cement and ready-mix concrete. Reporting to Holcim Peru, the companies are expected to operate independently and retain their own brands. The acquisitions will allow Holcim to continue its commitment to economic and social development in Latin America. Re... |
Antimonopoly committee conducts market test on CRH deal09 August 2024, Published under Cement NewsOn 1 August, the Antimonopoly Committee of Ukraine (AMCU) conducted a market test for the acquisition of two Buzzi cement plants by CRH . This test was the penultimate step on the way to finalising the deal. The market test was comprised of surveys from industry stakeholders such as consumers, industry experts and other market participants. The AMCU often uses this tool to assess the viability of large-scale mergers and acquisitions. The test follows the AMCU announcement on 25 July ... |
Cemex exits Dominican Republic market06 August 2024, Published under Cement NewsCemex has signed a US$950m agreement for the sale of its operations in the Dominican Republic. The transaction includes an export businesses to Haiti. The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, SL, through a subsidiary, and its strategic partners, as buyers. The divested assets mainly consist of one cement plant ( 2.4Mta San Pedro de Macorís plant) in the Dominican Republic consisting of two integrated production li... |