10 May 2016
India: On 9 May 2016 Dalmia Cement withdrew their challenge to a conditional approval given by India’s anti-trust regulator to the proposed merger of Lafarge and Holcim in india. The Competition Appellate Tribunal (CAT) has accepted Dalmia’s decision, paving the way for the sale of Lafarge India’s 11Mt/yr of cement capacity as a part of the merger conditions.
A statement from LafargeHolcim stated, “We are happy Dalmia has withdrawn their appeal to the CAT and look forward to completing the sale of Lafarge India.”
Amortised debt worth nearly $400m says Cemex 10 May 2016
Mexico: On 9 May 2016 Cemex announced that it had amortised debt worth US$397.4m as part of its refinancing strategy to lower costs. Cemex, which had been selling assets to cut debt, announced an offer to buy back up to US$400m in debt in April 2016.
Nigeria: A survey conducted in Delta State between January and April reveals that the prices of some building materials, including cement, had risen 6% due to the rise in transportation costs. A 50kg bag of Elephant brand cement which was sold for US$8.03 in January was later sold for US$8.53/bag.