Cement News tagged under: divestment
Southeast Asia producers line up for LafargeHolcim Indonesia sale17 August 2018, Published under Cement NewsThe sale of LafargeHolcim's Indonesian unit has attracted the interest of several potential buyers in the region, including Japan's Taiheiyo Cement Corp, Malaysia's YTL Corp and PT Semen Indonesia, Bloomberg reports, citing unnamed sources. HeidelbergCement's Asian unit PT Indocement Tunggal Prakarsa is also considering a bid, Bloomberg reports. Negotiations are still at an early stage and LafargeHolcim could seek as much as US$2bn for the unit, Bloomberg says. LafargeHolcim owns 80.6 ... |
CRH02 August 2018, Published under Cement NewsCRH America has sold its Mallard Sand & Gravel operation in Omaha, Nebraska, to Martin Marietta Materials. The disposal was required as a result of the acquisition of Ash Grove Cement Company. |
ARM Cement to relinquish Tanzania assets18 June 2018, Published under Cement NewsARM Cement will include KES854.6m (US$8.45m) of additional assets in Tanzania to sweeten the deal for buyers of the company’s non-cement business, according to The Citizen. The company reached an agreement to sell its fertiliser and mineral production businesses in Kenya to Swiss firm Omya and Pinner Heights Ltd (PHL), a company owned by its CEO, Pradeed Paunrana, for KES1.6bn. Its latest annual report ARM said that the buyers could also acquire its non-cement operations in Tanzania for f... |
PPC26 April 2018, Published under Cement NewsPPC is reportedly in talks with China National Materials Co (Sinoma) over the sale of a majority stake in PPC’s operations in the Democratic Republic of Congo. Over the last five years, PPC has invested ZAR12bn (US$995m) in new capacity, taking the company into Ethiopia as well as the Democratic Republic of Congo. However, an oversupply of cement in Congo has led to what PPC describes as a “challenging” time in the country, forcing it to negotiate a debt holiday with lenders. It is now lo... |
Cimpor02 February 2018, Published under Cement NewsCimpor is likely to return to the stock market as InterCement, the intermediate holding company, is looking to reduce debt levels. InterCement sold a significant minority stake in its Argentine subsidiary Loma Negra last year. The Cimpor business that is expected to become quoted is likely to consist of the operations in Portugal, Cape Verde, South Africa and Mozambique. |
CRH02 February 2018, Published under Cement NewsCRH announced the completion of the sale of its Americas Distribution business for US$2630m at the beginning of January. |
Cementos Argos25 January 2018, Published under Cement NewsArgos USA LLC, a subsidiary of Cementos Argos SA, has sold 13 block manufacturing plants and a construction materials warehouse to Best Block LLC, a subsidiary of Quikcrete. The deal is reportedly worth US$50m. All the assets in question are located in Florida and Georgia and form part of the cement and concrete package acquired by Argos from Vulcan Materials in 2014. |
CDC seeks ARM divestment18 January 2018, Published under Cement NewsThe Commonwealth Development Corp (CDC), the UK government agency that acquired a 42 per cent stake in ARM Cement, is reportedly in talks with several, mostly Asian, companies to sell its shares in the Kenyan cement producer. When it invested in ARM Cement, the agency provided a US$140m cash injection to turn the cement firm around, but this has turned out to be insufficient. |
Hurtado Vicuña on the verge of completing required divestment10 January 2018, Published under Cement NewsGrupo Hurtado Vicuña is expected to be soon completing the divestment of a part of Cementos Bicentenario (BSA) assets, one of the main conditions imposed by Chile’s Fiscalia Nacional Economica (FNE) and its anti-competition authority, TDLC, in terms of the company’s acquisition of Cementos Polpaico shares. Certain sources suggest that offers have been received for the BSA assets and that due diligence has started with a deal likely to be completed before the end of this month, reports El ... |
HeidelbergCement03 January 2018, Published under Cement NewsHeidelbergCement has decided to divest of its calcium silicate business and has agreed to sell its seven plants in Germany and one in Switzerland to the Danish group H+H International for around EUR110m. The business is expecting to achieve a turnover of around EUR65m in 2017 with the EBITDA margin being around 20 per cent. H+H International currently operates 13 calcium carbonate plants in Europe and is in the process of acquiring a further business in Poland in addition to the deal w... |