Cement News tagged under: Acquisition
Invesa raises Bío Bío stake18 January 2018, Published under Cement NewsFollowing the launch of a public offer to buy 54,208,259 shares in Cementos Bío Bío (CBB) last month, Inversiones y Desarrollos (Invesa) has confirmed it has increased its stake in the Chilean cement producer to 39.5606 per cent. Invesa paid CLP847 (US$1.40)/share for the recently-bought 0.0448 per cent stake. In November it had acquired a 13.1 per cent share in CBB from Brazil-based Votorantim for around US$46m. Taking into account the shares held by other businesses of the Invesa fam... |
Shree Cement to acquire 93% stake in Union Cement12 January 2018, Published under Cement NewsShree Cement Ltd announced on Thursday that it had agreed to acquire a 92.83 per cent stake in Union Cement Co PSC, for an enterprise value of US$305.24m, according to the Hindustan Times. The deal will increase Shree Cement’s capacity to 33.3Mta from 29.3Mta, and is expected to be concluded within nine months. Shree Cement has the option to take full control of the company’s shares, said Subhash Jajoo, CFO, Shree Cement. Union Cement is based in the UAE and has a total capacity of 4... |
McInnis Cement could be up for sale08 January 2018, Published under Cement NewsA Canadian pension fund has hired advisers to explore the possible sale or partial sale of McInnis Cement, reports Bloomberg. Caisse de Depot et Placement du Québec and its partners have hired advisers to explore options to sell part or all of McInnis Cement. McInnis Cement project was the first new cement plant to serve eastern Canada and New England in more than 50 years when it opened last year. McInnis Cement has a deep-water marine terminal next to the 2.2Mta Port-Daniel-Gascons... |
HeidelbergCement on path to consolidate Italian market05 January 2018, Published under Cement NewsHeidelbergCement's acquisition of Cementir Italy via its Italcementi subsidiary will make HeidelbergCement the Italian leader with a combined market share of around 38 per cent, ahead of Buzzi Unicem with 22.5 per cent, according to CIM-CIC Market Solutions. The research house also reports that the antitrust authority analysed the combined positions of the two entities (Italcementi and Cementir Italia) in eight commercial regions: Arquata (AL), Cagnano, Maddaloni, Spoletto, Tarante, Tar... |
Italcementi completes Cementir Italia acquisition03 January 2018, Published under Cement NewsHeidelbergCement subsidiary Italcementi has completed the acquisition of Cementir Italia. All conditions for the closing of the transaction have been fulfilled following the approval by the Italian competition authority. "With the acquisition of Cementir Italia we significantly improve our nationwide presence in Italy," explains Dr Bernd Scheifele, chairman of the Managing Board of HeidelbergCement. "For Italcementi, the acquisition is a unique opportunity to grow and consolidate its posi... |
Dalmia Bharat to acquire Murli Industries21 December 2017, Published under Cement NewsDalmia Bharat is set to acquire the bankrupt Murli Industries, according to The Economic Times. The deal represents an investment of close to INR4bn (US$62.4m) by Dalmia. The company will also cancel almost the entire equity of Murli Industries. Dalmia won the bid on Wednesday, despite Gajanan Oil submitting a higher cash offer. Including interest and fines, Murli Industries had accumulated INR17bn in debt. Murli has an integrated cement plant with a capacity of 3Mta. |
Fairfax drops plans to buy 23% of PPC12 December 2017, Published under Cement NewsCanada's Fairfax Africa Investments Proprietary Ltd has pulled out of its attempt to buy 23 per cent of South African cement producer PPC for ZAR2bn (US$146.34m), PPC said on Monday. "On 8 December 2017, the Independent Board received Fairfax's formal notification that it will not proceed with the partial offer and that, accordingly, the Fairfax partial offer circular will not be posted to PPC shareholders," PPC said in a statement. Fairfax offered to buy 23 per cent of PPC in September... |
Apollo Asia invests in Steppe Cement08 December 2017, Published under Cement NewsApollo Asia Fund Ltd has acquired 11.2m shares, representing 5.13 per cent of the issued share capital of Steppe Cement Ltd, which produces construction materials in Kazakhstan. Steppe said it was "pleased" to have the new significant shareholder, which is managed by Apollo Investment Management. Shares in Steppe Cement were down 0.3 per cent at GBP0.2094 on Friday. |
Ashaka Cement approves Lafarge Africa's acquisition deal31 October 2017, Published under Cement NewsShareholders of Ashaka Cement Plc have approved the complete acquisition of the company by Lafarge Africa, in a deal with a cash consideration of NGN604.092m (US$16.8m) and total value of NGN5.97bn. The shareholders of Ashaka Cement agreed to allow Lafarge increase its stake in the company from 86.51 per cent to 99.99 per cent. However, the deal is subject to approval by the regulatory authorities, said Ashaka Cement. Meanwhile, Ashaka Cement Plc's energy strategy has helped it gr... |
Jinyuan Cement approves environmental technology company acquisition25 October 2017, Published under Cement NewsJinyuan Cement Co Ltd company has approved of its subsidiaries acquisition of Shanghai Huayu Environmental Technology Co Ltd. Directors of Jinyuan Cement approved Golden Circle Cement Co Ltd's acquisition of the technology company. Through Golden Circle Cement Co Ltd, Jinyuan Cement Co now has a 51 per cent stake in Shanghai Huayu Environmental Technology. The acquisition was made to speed up the pace of environmental development strategy, and actively promote the cement kiln co-processi... |