Cement News tagged under: Mergers and Acquisitions
LafargeHolcim acquires Kendall Group26 February 2018, Published under Cement NewsLafargeHolcim has acquired UK-based aggregates and ready-mix concrete manufacturer Kendall Group to expand its operations in the south of England. Kendall will be managed by Aggregate Industries and complement the company’s existing operations in the UK, according to LafargeHolcim. Kendall generated a net revenue of CHF33m (US$35.2m) in 2017 and marks the first deal of the year for LafargeHolcim. |
HeidelbergCement to sell to stake in Lehigh White Cement Co15 February 2018, Published under Cement NewsHeidelbergCement announces that its subsidiary Lehigh Cement Company LLC has signed an agreement to sell its 51 per cent position in Lehigh White Cement Company to the minority shareholders Aalborg Cement Company Inc and Cemex Inc. The enterprise value of the transaction amounts to about US$140m. Closing of the transaction is subject to customary conditions and is expected during the first quarter 2018. “As a niche product with small volumes, the standalone production of white cement does... |
Dewan Cement to sell controlling shares of two plants01 February 2018, Published under Cement NewsDewan Cement Ltd is reportedly in talks with Karachi-based Mega Conglomerate Ltd to sell its controlling shares in two plants based in Dhabeji, Sindh and Hattar Industrial Estate, Khyber Pakhtunkhwa. The two facilities have a combined capacity of 2.89Mta. BMA Capital has been appointed as the manager of the deal, overseeing the acquisition of 87.5 per cent of total shares from Dewan Cement. While 75 per cent of the controlling shares will be from major shareholders, the remainder will b... |
Dalmia Bharat ready to acquire Kalyanpur Cement30 January 2018, Published under Cement NewsDalmia Bharat is set to acquire bankrupt Kalyanpur Cement after lenders have approved a debt resolution plan, reports the Economic Times. Dalmia outbid other companies like JSW Cement, JK Lakshmi and Star Cement, in a resolution which may exceed INR3.5bn (US$54.92m). Although the National Company Law Tribunal (NCLT) have not yet approved the acquisition, a decision is expected within the coming days. "The debt resolution assumes significance as the company is based out of Bihar, where the... |
Restructuring to re-energise South Korean market26 January 2018, Published under Cement NewsSouth Korea's cement market took a further step towards consolidation this week when Asia Cement acquired Halla Cement for US$723m. This added 7.6Mta to Asia Cement's capacity and made it the third largest cement producer in the country. Asia Cement fought off bids from three other interested companies to secure the former Lafarge business and initially six investors had expressed an interest to buy Halla Cement. "Upon acquiring Halla Cement, Asia's share in the local market would ... |
CRH Ciment SA and Comnord SA accepts Romania’s Competition Council fine for unauthorised merger16 January 2018, Published under Cement NewsCRH Ciment and Comnord SA have been retrospectively fined RON3,056,314 (US$802,409) by Romania’s Competition Council for the implementation of a merger carried out before receiving the council's authorisation. In its analysis of a recent transaction, through which CRH Ciment SA became the sole shareholder of CRH Comnord SA, the Competition Council found that a previous operation had not been notified and authorised according to current rules, which prohibits mergers without notification a... |
Lafarge Africa to sell SA unit?05 January 2018, Published under Cement NewsLafarge Africa could put up its South African unit for sale, according to analysts at Exotix Capital. Proceeds of the sale could then be used to strategically shore up and stabilise the company’s Nigerian business, kickstarting the region’s merger and acquisition activity. The South African cement sector has become increasingly competitive while in the rest of Africa, PPC, Lafarge, Dangote, Bamburi and Twiga Cement are seen consolidating their markets. In addition, Chinese investors have ... |
CRH03 January 2018, Published under Cement NewsHaving started a process of due diligence, CRH has decided not to proceed with a bid for the African cement producer Pretoria Portland Cement. |
Cementos Molins reduces price for LafargeHolcim Bangladesh to US$62m28 December 2017, Published under Cement NewsCementos Molins (Spain) has reduced the purchase price for LafargeHolcim Bangladesh to US$62m, compared to the US$117m originally announced in December 2016 for 100 per cent of the company, which owns three cement grinding units in the Asian country. The acquisition relates to the ongoing restructuring of Lafarge and Holcim assets in Bangladesh following the LafargeHolcim merger. Cementos Molins was previously a joint venture partner in Bangladesh with Lafarge. |
China National Building Materials (CNBM)18 December 2017, Published under Cement NewsThe proposed takeover of China National Materials (Sinoma) by China National Building Materials (CNBM) has been given the green light by shareholders of the two companies. The two firms agreed to combine in September this year as part of a wider amalgamation of their biggest shareholders – the central government-run China National Building Material Group and China National Materials Group. The deal comes in response to Chinese government plans to streamline its giant state firms and end w... |