Cement News tagged under: Mergers and Acquisitions
LafargeHolcim withdraws from further talks with PPC14 December 2017, Published under Cement NewsLafargeHolcim has ended talks with South Africa’s PPC about a potential deal, said the Swiss cement producer in a brief statement. The step comes only a day after Canada’s Fairfax Africa Investments Proprietary Ltd pulled out its attempt to buy 23 per cent of the South African cement producer and a week after CRH exits talks with PPC. |
CRH exits PPC talks but LafargeHolcim discussions continue07 December 2017, Published under Cement NewsIrish cement producer CRH has decided to pull out of the process to bid for rival PPC, the South African company said on Thursday. Last month, CRH made an undisclosed cash bid for PPC and had been given time for due diligence and to submit an updated bid, but CRH has now opted to drop its interest in PPC. "CRH has decided not to submit an updated expression of interest and therefore considers it appropriate to withdraw from the Independent Board’s process," PPC said in a statement. In... |
LafargeHolcim04 December 2017, Published under Cement NewsLafargeHolcim's subsidiary Lafarge Africa has bought out the minority shareholders in Ashaka Cement and has issued 85.26m shares as part of a share exchange agreement. |
Chile's Briones family hikes Bío Bío stake28 November 2017, Published under Cement NewsThe Briones family has decided to acquire a further 13.1 per cent stake in Cementos Bío Bío SA from Votorantim for more than CLP29bn (US$45.5m), according to Chilean daily La Tercera. This purchase would bring the Briones stake to 39.52 per cent, making it the largest shareholder in the Chilean cement producer, followed by a 19.03 per cent stake held by other members of the Briones family. Citing informed sources, La Tercera reported that Votorantim had approached the Chilean business... |
China National Building Materials (CNBM)27 November 2017, Published under Cement NewsChina National Building Materials (CNBM)’s proposed merger with China National Materials (Sinoma) has been given approval by the South Korean Fair Trade Commission. The merger, which was announced in September this year, has also been approved this month by China’s State-Owned Assets Supervison and Administration Commission (SASAC). SASAC, a special commission directly under the State Council, is responsible, among other things, for approving mergers and drafting laws related to China’s ... |
UltraTech Cement27 November 2017, Published under Cement NewsUltraTech Cement is one of an estimated 15 companies expressing an interest in purchasing Binani Cement, an Indian cement producer facing bankruptcy. Part of the largest BRAJ Binani Group, Binani Cement is no insignificant player with 11.3Mta of production capacity across India, China and UAE. However, oversupply remains a challenge in India and bidders are now circling for this latest asset up for grabs. Along with UltraTech Cement, CRH, LafargeHolcim, HeidelbergCement, Orient Cement and... |
PPC board rejects Fairfax offer24 November 2017, Published under Cement NewsThe board of PPC has advised its shareholders not to accept the offer of Fairfax Africa Investment Pty Ltd to buy a stake in the South African cement producer. The company will continue talks with LafargeHolcim and CRH on the sale. The Takeover Regulation Panel has extended the deadline for the Fairfax offer to 12 December 2017, according to the cement producer’s board. Fairfax has signalled its intention to make an offer to acquire ordinary shares representing ZAR2bn (US$144.1m) of PPC’s... |
Karsdorf Cement plant sale to be abandoned20 November 2017, Published under Cement NewsSchwenk KG has abandoned its plans to acquire Opterra’s cement plant in Karsdorf, according to a press release by the Bundeskartellamt (Federal Cartel Office - FCO). The withdrawal of the notification also includes the purchase of the cement plant in Sötenich. "The merger was expected to significantly impede effective competition and would have had to be prohibited. With the acquisition of the plant in Karsdorf Schwenk would have gained a dominant position as a cement manufacturer in the ... |
CRH01 November 2017, Published under Cement NewsThe shareholders of Ash Grove Cement have now approved the take-over by CRH, adding eight cement works, 52 batching plants and 45 aggregates extraction sites. The potential alternative offer for Ash Grove suggested by Summit Materials did not occur. |
PPC01 November 2017, Published under Cement NewsOctober has seen the saga over PPC’s future continue to dominate the headlines. Last month saw AfriSam submit a merger deal, backed by Toronto-based Fairfax Financial Holdings. However, Prudential Investment Managers, which holds a 13-14 per cent stake in PPC, opposed the merger saying that the AfriSam deal undervalued PPC and that PPC’s share price would double in the next 3-4 years as operations across Africa ramp up. Visio Capital Management, which has a seven per cent share in PPC, th... |