Displaying items by tag: Acquisition
Reliance Mutual Fund buys 3.26 million shares in Sanghi Industries
17 September 2014India: Reliance Mutual Fund has bought 3.26 million shares in Sanghi Industries for US$0.732/share via a bulk deal. Prior to the deal, Reliance Mutual Fund owned 71% of the shares, while institutions and non-institutions held 3.50% and 25.5% respectively.
Lafarge sells Russian cement plant to Buzzi Unicem to cut debt
16 September 2014Russia: Lafarge SA has sold one of its Russian cement plants to Buzzi Unicem as part of its effort to cut debt. The Ural Cement plant in Korinko, Chelyabisnk was sold for Euro104m. Lafarge aims to reduce its debt to below Euro9bn from Euro11.2bn. The plant sale requires regulatory approval.
PPC buys other half of fly ash producer Pronto
16 September 2014South Africa: PPC has acquired the remaining 50% stake in Gauteng Province's ready-mix concrete and fly ash-supplier, Pronto Holdings, which it did not already own. Bheki Sibiya, PPC's chairman, said that it had paid a total of US$41.9m for 100% of Pronto.
Sagar Cements plans to acquire BMM Ispat cement business
12 September 2014India: Sagar Cements is reportedly planning to acquire cement business of Bangalore-based BMM Ispat Group. The deal is expected to be closed within two weeks with an approximate value of US$82.2m.
EC approves Spanish Cemex-Holcim deal
10 September 2014Spain: The European Commission has cleared the acquisition of the Spanish operations of the Swiss building materials group Holcim by its Mexican peer Cemex following an in-depth investigation.
Sagar Cements completes sale of its investment in Vicat Sagar Cement
08 September 2014India: Sagar Cements has completed the sale of its 47% stake in its joint venture company, Vicat Sagar Cement. Sagar had earlier obtained approval from the shareholders through postal ballot for the sale. Sagar and Vicat entered into the joint venture in June 2008 with the objective of setting up a 5.5Mt/yr cement plant in Gulbarga, Karnataka. The first phase of the plant, which was to reach a production capacity of 2.75Mt/yr, was completed in December 2012. Production commenced in January 2013.
UltraTech completes acquisition of cement units of Jaypee Cement
03 September 2014India: UltraTech Cement has completed the acquisition of cement plants of Jaypee Cement Corporation (JCCL) in Gujarat State. UltraTech informed the Bombay Stock Exchange that the acquisition process had been completed and became effective from 12 June 2014.
In September 2013 UltraTech acquired the cement unit of JCCL, which comprised an integrated cement plant at Sewagram and a grinding plant at Wanakbori, for US$627m. Post-acquisition, UltraTech's total capacity in India stands at 58.8Mt/yr. Including overseas capacity it is 62Mt/yr.
Shree Cement to acquire Jaiprakash grinding unit
27 August 2014India: Shree Cement has received the approval to acquire a 1.5Mt/yr cement grinding unit in Panipat, Haryana, which is currently owned by Jaiprakash Associates. The unit will reportedly be sold for US$59.6m.
The deal is subject to adjustments for any financial indebtedness and net working capital taken over as of the closing date and subject to satisfactory completion of due diligence and obtaining necessary approvals and consents.
Environnement SA acquires monitoring firm PCME
08 August 2014France/UK: Environnement SA, the French supplier of environmental monitoring equipment and the company PCME Ltd, the UK-based supplier of continuous particulate monitors for industrial processes, have announced the acquisition of PCME by Environnement SA.
The firms say that the acquisition allows the enlarged group to offer the most advanced and wide range of solutions worldwide so that it can match present and future challenges in respect of process or regulatory environmental monitoring requirements for industrial processes. This new alliance will shortly launch a new range of flow emission monitors and will engage in innovative joint research and development projects towards the production of new product ranges. Each entity will keep its own autonomy, with PCME retaining its current management team and employees.
François Gourdon, president and founder of Environnement SA, said, "We are very enthusiastic about the opportunities that we'll be able to provide to our worldwide industrial customers. The expertise of PCME for the monitoring of particulate in industrial processes, combined with the expertise of Environnement SA in the monitoring and detection of very low concentrations of gas and fine particulate, including PM10 or PM2.5, will definitively provide a new generation of equipment for the industrial regulatory market."
William Averdieck, managing director and founder of PCME Ltd, said, "Both management teams have known each other for many years and have respect for the success they have both achieved in similar markets with complementary product lines. This strong partnership announced today will boost our organic growth plan and strategy, allowing us to double our revenue within five years, reaching new customers, new markets and new applications worldwide, while maintaining our strength as an innovative (and passionate) manufacturer of particulate and flow instruments."
Votorantim and Molins join forces in new firm Yacuces
06 August 2014South America: Brazilian conglomerate Votorantim has teamed up with Spanish company Cementos Molins to expand their cement businesses in Latin America through newly formed cement company Yacuces.
Votorantim will have a 51% stake in the joint venture. The agreement involves the purchase of 66.7% of Bolivian cement company Itacamba for US$18.6m by Yacuces.
According to a statement filed with Spain's capital markets regulating commission CNVM, Itacamba has plans to invest around US$220m in the next two years to build a cement factory. Votorantim and Molins already have business partnerships in Argentina and Uruguay through cement companies Cementos Avellaneda and Cementos Artigas.