Cement News tagged under: divestment
LafargeHolcim looks to divest Brazilian assets22 April 2021, Published under Cement NewsLafargeHolcim is reportedly exploring the sale of its Brazilian unit, which consists of 12 plants, according to people close to the matter. The company has hired Banco Itau BBA to advise on the potential divestment, which could bring in as much as US$1.5bn. The divestment could be made to one buyer or assets could be split. Under CEO Jan Jenisch, the company has been selling off assets that do not contribute to core operations as the company seeks to reduce debt levels. Earlier sell-off... |
Lafarge Africa to sell 35% stake in Ghana operations25 January 2021, Published under Cement NewsFollowing an emergency meeting of its Board of Directors, LafargeHolcim-owned Lafarge Africa Plc reached an agreement to offload its 35 per cent holding in Ghana-based Continental Blue Investment after years of loss-making. The step is the second major divestment in less than two years after Lafarge Africa’s US$316m sale of its South African subsidiary in July 2019. Proceeds of this deal went to settling Lafarge Africa’s debt to Caricement BV in a debt-to-equity swap, improving the company... |
Al Karama announces prequalifiers for Carthage Cement24 December 2020, Published under Cement NewsAl Karama Holding has published the list of prequalified candidates in the sale of the majority stake of Tunisia-based Carthage Cement. It includes domestic companies such as Madja Tunisia SA, Les Ciments Artificiels Tunisiens SA and Société des Ciments de Gabès SA as well as overseas cement producers such as SECIL (Portugal), Cemolins International SLU (Spain), and the consortium of M Boureima Ouedraogo (Burkina Faso) and Petrolcem srl (Italy). Al Karama Holding launched a call for expr... |
Briones sisters sell Bío Bío stake to Gloria Group20 October 2020, Published under Cement NewsAnita and Loreto Briones Goich of ALB SpA have sold their entire 19 per cent stake in Cementos Bío Bío, the cement company founded by their father, Hernán Briones Gorostiaga in 1957. The shares were sold for approximately US$46.8m to the Peruvian Gloria Group. Cementos Bío Bío includes CBB, Inacesa, Ready Mix and Inacal and has a presence in Chile, Argentina and Peru. The sale follows the divestment of shares to Peru-based Unión Andina de Cementos, who purchased 50 per cent of the shares ... |
Taiheiyo Cement to transfer equity stake in Qinhuangdao Asano Cement18 September 2020, Published under Cement NewsJapan-based Taiheiyo Cement announced that it would transfer the 71.99 per cent equity stake in its Chinese consolidated subsidiary Qinhuangdao Asano Cement to China's Qinhuangdao Changyang Concrete. A transfer price has not been disclosed, but the transfer is scheduled for the middle of September. After the equity transfer, Qinhuangdao Asano will no longer be a consolidated subsidiary of Taiheiyo Cement. Established in 1995 in Hebei province, Qinhuangdao Asano Cement has been producing cem... |
Misr Insurance reduces Misr Cement-Qena stake24 June 2020, Published under Cement NewsMisr Insurance Co has lowered its stake in Misr Cement-Qena from 9.3 to 4.68 per cent, Misr Asset Management said in a statement to the Egyptian Exchange on 23 June. The insurance company sold 3.33m shares for EGP20.74m (US$1.28m) at an average price of EGP6.23/share. |
Cemento Melón to sell concrete products business07 May 2020, Published under Cement NewsCemento Melón has announced it will divest its concrete products business and has signed an agreement with Grau SA to sell 49 per cent of its concrete prefabrication shares. The divestment will enable the Chilean cement producer to wholly focus and strengthen its key businesses of cement, concrete and sand. Pedro Grau of Grau SA said the company “understood the strategic decision of Melon to relinquish its stake, a step that is lamentable as we value the permanent contribution of its direct... |
Eagle Materials sells non-core concrete and aggregates assets20 April 2020, Published under Cement NewsEagle Materials Inc announced it has sold its Western Aggregates and Mathews Ready Mix operations for US$93.5m to Teichert, a California-based construction company. Western Aggregates vested-rights-to-mine covers 3900 acres and includes over 900Mt of aggregates. Mathews Ready Mix assets include three concrete batch plant locations and 26 trucks. Michael Haack, Eagle Materials president and CEO, said: “This transaction represents the sale of non-core assets on the heavy-side of our com... |
Cemex and Buzzi Unicem complete Kosmos Cement sale to Eagle Materials Inc09 March 2020, Published under Cement NewsCemex has divested its 75 per cent share in its partnership with Buzzi Unicem of Kosmos Cement in Louisville, Kentucky, USA, to Eagle Materials Inc. The divestment is for an aggregate amount of US$665m, of which Cemex will receive approximately US$499m. Meanwhile, Buzzi Unicem has sold its 25 per cent share in Kosmos Cement to Eagle Materials Inc. The deal includes the divestment of the Louisville cement plant and seven terminals and raw material reserves. |
Breedon shareholder plans to sell up to 8.3% stake07 November 2019, Published under Cement NewsBreedon Group Plc shareholder M1 Cement Holding Ltd plans to sell up to 8.3 per cent of the company’s issued share capital via a secondary placing, according to brokerage JP Morgan Securities Plc. M1 Cement plans to sell up to around 139.7m shares in the British construction-materials company. The price of the placing will be determined through an accelerated bookbuild process to institutional investors, the brokerage said. Breedon shares closed 0.6 per cent higher at 65.40 pence on Tue... |