Cement News tagged under: Mergers and Acquisitions
China National Building Materials (CNBM)01 November 2017, Published under Cement NewsChina National Building Materials Group (CNBM) is in talks to integrate some of its 15 subsidiaries. The move follows the announcement in September this year of the merger between CNBM and China National Materials Group, another state-owned building materials player, also known as Sinoma. Of the 15 subsidiaries in question, three are listed overseas. T he aim of the merger is to consolidate and strengthen the core business of each subsidiary, boosting profitability and maximising their va... |
Dangote Cement group increases revenues by 37% in 9M1720 October 2017, Published under Cement NewsDangote Cement’s overall group revenue increased by 36.5 per cent from NGN442.1bn (US$1.08bn) in the first 9M16 to NGN603.6bn in 9M2017, despite a 10.1 per cent fall in group cement volumes to 16.5Mt, as the impact of price increases dampened demand in Nigeria. The group’s profit for the period was NGN193.1bn, up 44.6 per cent compared to NGN133.5bn in 2016. “Dangote Cement has continued to perform strongly in 2017 with revenues up nearly 37 per cent despite a fall in volumes. In our key ... |
PPC is a new target for CRH13 October 2017, Published under Cement NewsCRH is among companies considering a counterbid for PPC that could trump an offer by Canada’s Fairfax Financial Holdings, according to Bloomberg sources. PPC’s future has been considering a merger with rival AfriSam Group failed and Toronto-based insurer Fairfax made a partial offer for ZAR2bn (US$149.5m) of PPC stock at ZAR5.75/share. PPC has a market value of ZAR11bn (€689m). Fairfax’s offer is conditional on PPC merging with AfriSam, and the South African company has appointed Invest... |
PPC merger opposition grows11 October 2017, Published under Cement NewsVisio Capital Management, which holds seven per cent of PPC shares, is the latest investment manager to object to a partial conditional offer for AfriSam-Fairfax merger. Visio Capital’s position sees at least 25 per cent of shareholders opposing the merger. Earlier this week, Value Capital Partners, which owns around five per cent of PPC stock, had rejected the offer made by Canada’s Fairfax Africa Investments saying the intrinsic value of PPC was at least ZAR10/share. Fairfax had underta... |
Votorantim10 October 2017, Published under Cement NewsThe Votorantim Cimentos has announced its intention to sell its 50 per cent interest in the northen Florida cement company, Suwannee American Cement LLC. The joint owner of Suwannee American Cement is the privately-held construction company Anderson Columbia. |
Buzzi Unicem10 October 2017, Published under Cement NewsBuzzi Unicem has acquired a 50 per cent stake in Ecotrade SpA, a company which deals in blast furnace slag and coal ash and handles in excess of 2Mta. Buzzi Unicem intends to expand Ecotrade’s operations beyond Italy to other countries where it is active. |
CRH10 October 2017, Published under Cement NewsCRH is to acquire Ash Grove Cement Company for US$3500m. Ash Grove Cement is currently the largest privately-owned cement producer in the USA and operates eight cement plants, two import terminals, 52 ready-mixed batching plants and 45 aggregates extraction sites. In the year to 31 December 2016, Ash Grove Cement generated a pretax profit of US$215m and shipped 7.4Mt (8.2Mst) of cement. CRH is currently its largest customer. The deal is expected to be completed around the end of the ye... |
Cemex10 October 2017, Published under Cement NewsCemex has sold its 9.47 per cent direct stake in Grupo Cementos de Chihuahua for around US$168m, while retaining an indirect interest via the shares held by CAMCEM SA and this amounts to around 20 per cent. An earlier tranche was disposed of in February of this year. |
HeidelbergCement10 October 2017, Published under Cement NewsHeidelbergCement has provisionally agreed terms with Cementir to acquire Cementir Italia’s Italian cement and ready-mixed concrete business, subject to such a deal not being blocked by the competition authorities. Bearing in mind that Italcementi is the domestic market leader by a substantial margin approval may not be that easily obtained and may require some disposals to other parties. The proposed purchase of Cementir Italia in 2018 is thought to cost around EUR315m and should roughly ... |
China National Building Materials (CNBM)25 September 2017, Published under Cement NewsChina National Building Materials (CNBM) has said that its merger with China National Materials Group Corp (Sinoma) will be finalised by the end of this year. The merger process began back in August 2016 when the deal was approved by the Chinese State Council. Recent weeks have seen nine subsidiaries of the two groups suspend trading, fuelling speculation that the merger is being accelerated. CNBM hopes to use the merger to cut debt by increasing operation cash flow and decreasing capital... |