Cement News tagged under: mergers and acquisitions
Cemex set to divest certain UK assets to Breedon Group08 January 2020, Published under Cement NewsUK-based Breedon Group has announced that it has entered into a conditional agreement with Cemex to acquire certain assets and operations in the UK for a total consideration of GBP178m, on a cash and debt free basis. The assets encompass approximately 100 active operations, including 49 ready-mix plants, 28 aggregate quarries, 4 depots, 1 cement terminal, 14 asphalt plants and 4 concrete products operations. The operations are located across six divisions located in Scotland, Wales, north-... |
Ohorongo Cement to be acquired by West China Cement06 January 2020, Published under Cement NewsNamibia's Ohorongo Cement is set to be acquired by West China Cement for US$104m, following an agreement made on 3 January. The takeover is expected to completed soon but is subject to Namibian regulatory approval. Negotiations reportedly began last year when the owners of Ohorongo Cement announced plans to sell its mine which has over 80 per cent of the site’s raw materials. The sale and purchase agreement is subject to certain conditions which must be satisfied by 31 March 2020 in or... |
CRH seeking buyers for its Brazilian business30 December 2019, Published under Cement NewsCRH, Ireland, is selling its cement business in Brazil, which it acquired in 2015 as part of a portfolio of assets bought from Lafarge and Holcim during their merger, according to reports in Valor Economico. CRH Brasil Participacoes S.A. operates three integrated plants and one grinding mill in the states of Minas Gerais and Rio de Janeiro with a total cement production capacity of 2.75Mta. CRH has reportedly hired Citigroup to help find buyers for the Brazilian assets. The bank is already... |
Shareholders approve CCNN-Obu merger06 December 2019, Published under Cement NewsShareholders of Cement Co of Northern Nigeria (CCNN) and Obu Cement Co have unanimously approved the merger of the two entities into Obu Cement plc. This implies that all the assets, liabilities, licences and undertakings of CCNN, including employees, real property and intellectual property right, have been transferred to Obu Cement. Also, the entire issued share capital of CCNN, comprising 13,143,500,966 ordinary shares of 50 kobo each be cancelled and CCNN be dissolved without being woun... |
Cemex reportedly looks to sell stake in Louisville plant22 November 2019, Published under Cement NewsCemex is reportedly looking for a buyer for its controlling interest in the Kosmos cement plant in Louisville, Kentucky, USA. The company is working with Bank of America Corp and Citigroup Inc on the sale of its 75 per cent stake, said the unnamed sources for El Financiero. The remaining stake in the company is owned by Buzzi Unicem. The sources also noted that no definitive decisions have been made and the deliberations may not lead to a transaction. |
Birla Corp acquires stake in AMP Solar Clean Power21 November 2019, Published under Cement NewsBirla Corp and RCCPL, its wholly-owned subsidiary, have acquired 26 per cent ownership (7.8 per cent and 18.2 per cent, respectively) of AMP Solar Clean Power. Birla Corp is planning to purchase solar power for its grinding units in Raebareli, Uttar Pradesh, (Raebareli Cement Works and Raebareli Hitech Cement) and RCCPL’s Kundanganj grinding facility. This will be achieved under the group’s captive scheme that stipulates at least a 26 per cent participation in the equity capital of the so... |
CRH reportedly looks to sell Philippine operations14 November 2019, Published under Cement NewsCRH is reportedly considering a sale of its Philippine cement business as the company seeks to raise cash by selling non-core assets, according to the Irish Independent. JP Morgan Chase is said to be assisting with finding a buyer for the operations, which could be valued between US$2-3bn. The company is currently receiving bid interest from Asia and Europe. However, the plans are still at a preliminary stage and no final decision has been made. CRH acquired Philippines-based Republic Cem... |
Jidong Cement to acquire 49% stake in Beijing BBMG Mangrove09 October 2019, Published under Cement NewsChina’s BBMG Corp is set to sell its entire 49 per cent stake in Beijing BBMG Mangrove to Jidong Cement for CNY1.72bn (US$241m). Jidong Cement is expected to fund the acquisition of the waste management company in an all-cash deal, according to a statement by BBMG. The proceeds from the divestment will be used to meet BBMG’s working capital requirements. |
Reliance Logistics acquires 92% of Sama Cement's share capital04 October 2019, Published under Cement NewsReliance Logistics Co has acquired 3.68m stocks of Egypt’s Sama Cement, representing 92 per cent of the company’s share capital. Sama Cement owns 6.8 per cent of Sinai cement, with Reliance Logistics reporting that its indirect and direct stakes in the latter have now reached 17.4 per cent. |
Lehigh Hanson set to acquire Giant Cement's Keystone plant27 September 2019, Published under Cement NewsHeidelbergCement has announced that its north American subsidiary, Lehigh Hanson Inc, has entered into an agreement to acquire Giant Cement’s (Elementia SAB de CV) Keystone facility in Bath, Pennsylvania. The agreed purchase price for the unit is US$151m cash free and debt free, equivalent to US$137/t of capacity. The plant operates 1.1Mta of cement capacity following a kiln line modernisation in 2009. It supplies the Pennsylvania, New Jersey and New York markets with bulk and bagged Portl... |