Cement News tagged under: divestment
CSN looks to buy InterCement's Loma Negra19 September 2024, Published under Cement NewsInterCement Participações , the indirect controlling shareholder of the cement producer Loma Negra in Argentina, agreed to a new exclusivity period in favour of Companhia Siderúrgica Nacional (CSN) to continue negotiating the acquisition of 100 per cent of its shareholding. The company previously had another exclusivity period, expired as of 12 August, after two extensions. There was no renewal and negotiations were left open to the possibility of an interested third party. However,... |
Attock Cement Pakistan receives sales proceeds from the Iraqi plant11 September 2024, Published under Cement NewsAttock Cement Pakistan Ltd informed the Pakistan Stock Exchange (PSX) on 9 September that it had received the sales proceeds of its stake in a cement facility in Iraq. Attock Cement has completed the sale of its shareholding in its subsidiary, Saqr Al Keetan for Cement Production Co Ltd (SAKCPCL), receiving the third tranche of payment amounting to US$5.850m. This marks the final consideration against the sale of the remaining 4.5m shares held in SAKCPCL. The company is now initiati... |
Cemex completes divestment in Neoris for US$209m05 September 2024, Published under Cement NewsCemex has finalised the sale of its remaining stake in Neoris, a digital accelerator founded more than 20 years ago. The sale will enable the company to focus on its core business and in line with its current acquisition strategy and portfolio balancing. The 34.8 per cent interest in Neoris was sold for US$209m to digital transformation services company EPAM Systems, according to a statement issued by the latter. The sale agreement also provides for Cemex to continue as a customer of Neori... |
Cementos Progreso emerges as a true regional player09 August 2024, Published under Cement NewsWhile Cemex has divested its Caribbean assets in the Dominican Republic, one company has jumped on the opportunity to expand its presence in the region. Guatemala-based Cementos Progreso (Cempro) is rapidly extending its reach in the Caribbean and Central America as it adds further cement capacity to its growing portfolio. The San Pedro de Macoris plant in the Dominican Republic will add 2.4Mta to Cempro's cement capacity by the 4Q24, when the transaction is expected to close. The acquisiti... |
Cemex exits Dominican Republic market06 August 2024, Published under Cement NewsCemex has signed a US$950m agreement for the sale of its operations in the Dominican Republic. The transaction includes an export businesses to Haiti. The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, SL, through a subsidiary, and its strategic partners, as buyers. The divested assets mainly consist of one cement plant ( 2.4Mta San Pedro de Macorís plant) in the Dominican Republic consisting of two integrated production li... |
Votorantim Cimentos divests business in Tunisia29 July 2024, Published under Cement NewsOn 26 July Votorantim Cimentos signed an agreement for the full sale of its Tunisian assets to Sinoma Cement Co Ltd, a China-based building materials enterprise. The sale includes the effective transfer of Votorantim’s assets in the country and financial liquidation and is subject to the fulfilment of standard transaction conditions. These include approval by regulatory authorities in China, Tunisia and the Common Market for Eastern and Southern Africa. Further details of the divestment... |
Buzzi to increase stake in Cement Nacional to 100%20 May 2024, Published under Cement NewsItaly-based Buzzi SpA said it will increase its stake in Brazilian cement producer Cimento Nacional (NCPAR) to 100 per cent from the current 50 per cent as its joint venture partner, Grupo Ricardo Brennand , exercises its put option, according to a statement by the company. The price will be determined based on existing agreements and may also vary depending on the exchange rate of the real. The total investment is currently estimated EUR290-310m (US$315m-337m) and will be funded with ... |
FLSmidth Cement closes MAAG gears sale05 March 2024, Published under Cement NewsWith reference to the announcement made on 22 January 2024, FLSmidth Cement has now closed the sale of its MAAG gears and drives business to the Swedish investment company, Solix Group AB. The transaction does not change FLSmidth’s previously-announced financial guidance for the full year 2023. |
A more concise InterCement Participaçoes01 March 2024, Published under Cement NewsThe last year has seen InterCement Participacoes (Mover) work hard to divest parts of its cement business to lower its debt. It is now being courted by several leading cement producers that are looking to make bids for further of the company's assets, making it likely that more divestments will be agreed before May and July, when the Brazilian company's latest set of debts are set to mature. Last week's statement from InterCement about having "received a series of inquiries and expressions ... |
Companies circle for InterCement's assets26 February 2024, Published under Cement NewsCompanhia Siderúrgica Nacional (CSN) and a consortium led by Votorantim Cimentos , including Polimix and Buzzi, have made binding proposals for the purchase of the assets in Brazil of Loma Negra 's parent company InterCement Participações (InterCement), according to a local source. InterCement has commented that it has received a series of inquiries and expressions of interest in its assets during recent months. BTG Pactual Bank is assisting in evaluating strategic alternatives, such... |