Cement News tagged under: divestment
Holcim divests business in Russia14 December 2022, Published under Cement NewsHolcim has signed an agreement to sell its business in Russia to the local management team. With the new owners, the business will operate independently under a different brand, said the company in a statement. Closing of the transaction will be subject to regulatory approvals. “This divestment completes Holcim’s market exit from Russia in line with the company’s values to operate in the most responsible manner,” added the company. The Russian business has been deconsolidated since March 2... |
Dalmia Bharat to acquire Jaiprakash Associates Ltd13 December 2022, Published under Cement NewsFollowing CemNet's Jaiprakash Associates Ltd news story on Monday , Dalmia Bharat Cement has announced the acquisition of the cement assets of Jaypee Group 's flagship company Jaiprakash Associates Ltd (JAL) and its associate company's at an enterprise value of INR56,660m (US$). In a regulatory filing, Dalmia Bharat informed that its wholly-owned subsidiary Dalmia Cement (Bharat) Ltd (DCBL) has entered into a "binding framework agreement for the acquisition of clinker, cement and po... |
Jaiprakash Associates convenes divestment meeting12 December 2022, Published under Cement NewsJaiprakash Associates ( Jaypee Group ) has informed that a board meeting has been convened to apprise the board of the recommendations of the audit committee and the progress on the various divestment initiatives. Jaypee Power Ventures (Jaypee Group) will hold a board meeting on Monday, 12 December to consider a proposal to divest its Nigrie cement grinding plant in Madhya Pradesh. In a regulatory filing, Jaypee Power Ventures informed that a board meeting has been convened on Monday t... |
Holcim closes Brazilian deal07 September 2022, Published under Cement NewsHolcim has closed the sale of its business in Brazil to CSN (Companhia Siderúrgica Nacional) for an enterprise value of US$1.025bn. The deal was closed following approvals from Brazilian authorities. This transaction includes Holcim’s five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities. Latin America remains a core strategic growth region for Holcim, according to the group. In the first half of 2022 Holcim completed a new ceme... |
CEMEX closes the sale of its Costa Rican operations02 September 2022, Published under Cement NewsThrough certain subsidiaries, CEMEX has successfully closed the previously informed sale of its operations in Costa Rica and El Salvador to Cementos Progreso Holdings SL , for an approximate amount of US$329m, as per the terms of the transactional documents. The transaction, which was closed in line with the terms that had been disclosed on 29 December 2021, is an important step in meeting the goal of optimising the company’s global asset base through asset divestments under CEMEX’s st... |
Lafarge Zimbabwe sells majority stake in its operations08 June 2022, Published under Cement NewsLafarge Zimbabwe is selling 76.45 per cent of its business to Fossil Mines Pvt Ltd. The Holcim group member announced on Monday that it was selling the majority stake in its business. This is a further sale for Holcim following recent divestments decisions taken in India for ACC Ltd and Ambuja Cements. The Manresa cement plant has a cement capacity of 0.45Mta and employees 800 people directly. There is currently a 0.5Mta expansion project being constructed at the plant. |
Multiple potential buyers for Holcim Russia17 May 2022, Published under Cement NewsMore than 30 potential buyers have expressed an interest in Holcim’s Russia business, according to Jan Jenisch, CEO, Holcim. Holcim announced in March that it plans to exit the Russia market following the country’s invasion of Ukraine. “The process has started, it has to be done with very great diligence. We have had many inquiries,” Mr Jenisch told Reuters. “We don't expect to write it off completely, I would hope this business has a value. You have to give us a couple of months t... |
Holcim reported to be looking for potential buyers of ACC Ltd19 April 2022, Published under Cement NewsBloomberg has reported on Holcim proposing to dispose of Ambuja Cements Ltd. Holcim owns ACC Ltd and Ambuja Cements in India. With approximately 64Mta of cement capacity it is second-largest producer behind UltraTech Cement in the country. The Swiss conglomerate is believed to have held early-stage negotiations with JSW and Adani Group, among others, to explore their interest levels, according the Economic Times. Deliberations are in the early stages and may not lead to a transaction, ... |
CADE gives initial approval of CSN acquisition of LafargeHolcim's Brazil operations06 April 2022, Published under Cement NewsTechnical staff at Brazil's antitrust watchdog CADE have approved the acquisition of LafargeHolcim 's local business by steelmaker Companhia Siderúrgica Nacional (CSN) with no restrictions. The move represents an initial approval as the deal could still be blocked by CADE's board of directors, which is required to analyse the transaction before giving the final green light, reports Nasdaq. Until then, both companies will remain operating independently, CSN said in a securities ... |
Martin Marietta Materials Inc enters into agreement to sell Redding plant01 March 2022, Published under Cement NewsMartin Marietta Materials Inc announced that it has entered into a definitive agreement to sell certain West Coast cement and ready-mixed concrete operations to CalPortland Company for US$250m in cash. The operations include the Redding cement plant, related cement distribution terminals and 14 ready-mixed concrete plants located in California. Ward Nye, Chairman, President and CEO of Martin Marietta, stated, “Consistent with our Strategic Operating Analysis and Review (SOAR) 2025 plan, w... |