Cement News tagged under: Lafarge
Holcim02 April 2015, Published under Cement NewsHolcim has sold its remaining 27.5 per cent stake in Siam City Cement for CHF655m (EUR624m) in a share placement that will yield a CHF465m (EUR348m) profit. A 24.9 per cent stake went to a member of the Hong Kong-based Jardine Matheson group and the remaining shares were places with institutional investors. Siam City Cement has a cement capacity of 14.5Mta at its Saraburi works, which employs in excess of 4000 people. Following opposition from the shareholders of the more profitable Holci... |
Lafarge and Holcim receive clearance from CCI on proposed merger02 April 2015, Published under Cement NewsHolcim and Lafarge yesterday announced they have received clearance from the Competition Commission of India (CCI) on their proposed merger. A package of asset divestments has been agreed with the CCI which involves the sale of the Sonadih cement plant and Jojobera grinding unit both owned by Lafarge. The two plants have a combined capacity total capacity of 5Mta and are situated in eastern India. The groups said in a joint statement that the divestment process will be carried out in the ... |
Ashaka Cement pretax profit rises 84.5%01 April 2015, Published under Cement NewsNigeria's Ashaka Cement 2014 pretax profit rose 84.5 per cent to NGN5.25bn (US$26m) from year ago, the company said on Tuesday. Revenue declined by 2.58 per cent during the period to NGN21.13bn, the unit of Lafarge Africa said in a statement. |
Holcim's No. 2 shareholder reportedly plans to vote against Lafarge merger30 March 2015, Published under Cement NewsEurocement Holding AG, the second-largest shareholder in Holcim Ltd, plans to vote against the Swiss company's merger with Lafarge SA unless the financial terms of the deal are altered, according to a person familiar with situation. Eurocement, which holds 10.82 per cent of Holcim, believes the terms of the deal continue to undervalue the Swiss company despite a revision of the agreement a little more than a week ago, the person said. The deal, which was originally structured as a one-for-... |
Lafarge and Holcim agree on revised terms20 March 2015, Published under Cement NewsLafarge and Holcim are back on track with their proposed merger having reached an agreement on revised terms for the deal. Holcim demanded new terms earlier this week, stating that the merger could no “longer be pursued in its present form and has proposed to enter into negotiations in good faith around the exchange ratio and governance issues." Under the new terms confirmed today, both parties agreed on a new exchange ratio of 9 Holcim shares for 10 Lafarge shares. The companies ha... |
Fitch expects negative impact on Lafarge credit profile if Holcim merger fails18 March 2015, Published under Cement NewsA failure of the proposed merger between Lafarge and Swiss Holcim would have negative effect on the credit profile of the French company, Fitch said. According to the rating agency, a collapse of the merger would be credit neutral for Holcim and positive for the credit profile of Irish rival CRH because its commitment to acquire assets from the two companies hinges on the deal’s completion. The rating agency believes the merger would come to a successful ending despite Holcim’s decisio... |
Holcim Board seek exchange ratio renegotiation for Lafarge-Holcim merger16 March 2015, Published under Cement NewsHolcim has issued a statement on its Annual General Meeting and the Board of Directors' decision to renegotiate the exchange ratio for the Lafarge-Holcim tie-up. The Board of Directors of Holcim Ltd has decided that the agenda for the Annual General Meeting of 13 April 2015 will only contain topics related to Holcim Ltd. This decision has been taken due to pending antitrust clearance in the US and India, pending EU approval of CRH as purchaser of divested assets, as well as delays in the ... |
Lafarge increases stake in Unicem09 March 2015, Published under Cement NewsLafarge Africa Plc has notified the Nigerian Stock Exchange that Nigerian Cement Holdings BV (NCH), a 50 per cent affiliate of Lafarge Africa, has completed the acquisition of a 15 per cent stake in Unicem from FMN Cement Industries Limited, a wholly owned subsidiary of Flour Mills of Nigeria Plc . NCH had a 70 per cent share interest in Unicem and following the acquisition, has now increased its stake to 85 per cent. A further 15 per cent tranche is expected to be acquired by NCH on or... |
China: Lafarge to buy out 45% interest in Lafarge Shui On Cement03 March 2015, Published under Cement NewsLafarge has signed an agreement to acquire the 45 per cent stake held by SOCAM Development Ltd in Lafarge Shui On Cement, for a consideration of HKD2553m (c€294m) subject to the completion of its merger project with Holcim. With a total cement production capacity of 32Mta in South West China in the provinces of Yunnan, Sichuan, Guizhou and Chongqing, Lafarge Shui On Cement would thus become a wholly-owned subsidiary of LafargeHolcim following completion of the merger project and this purcha... |
Holcim to offer shareholders merger sweetener?02 March 2015, Published under Cement NewsHolcim is considering offering its shareholders a sweetener to win their approval for a planned merger with Lafarge, Reuters reported citing an article in a Swiss newspaper. Analysts have seen a potential divergence in earnings outlooks between the two companies as opening the possibility of a renegotiation of the terms of the deal, which foresees each Lafarge share being swapped for one Holcim share. Swiss weekly Sonntagszeitung reported, without citing a source that Holcim was looking a... |