UK: Carbon Re has published a whitepaper entitled ‘Levers of Change’ that examines six key levers to accelerate decarbonisation in the cement industry. The document is intended to help companies in the sector navigate related regulatory and commercial factors. The six levers it examines are: standards; regulations; customer demand; technologies; capital; and financing and commercial advantages.

The whitepaper can be downloaded here: https://carbonre.com/levers-of-change

Colombia: Grupo Argos launched a buyback of US$10.1m-worth of its shares on 4 December 2023. Local press has reported that the offer covers US$8.33m-worth of common shares and US$1.73m worth of preferred shares. The offer will remain open until 7 December 2023.

China: China National Building Material (CNBM) plans to rearrange shareholding in Sinoma Cement between its subsidiaries. On 4 December 2023, fellow CNBM subsidiary Sinoma International Engineering agreed to buy US$174m-worth of shares in Sinoma Cement. Upon completion of this, Sinoma International Engineering and New Tianshan Cement will together buy US$975m-worth of shares. Following these subscriptions, Sinoma Cement’s share capital will rise by 67%, to US$436m. New Tianshan Cement’s total stake in the company will be 60%.

The group’s first-half 2023 interim report recorded Sinoma Cement as a 100% subsidiary of New Tianshan Cement.

India: Kesoram Industries says that it will repay US$180m-worth of loans from Cerberus Capital Services, Edelweiss and Goldman Sachs ahead of maturity. The Economic Times newspaper has reported that the company is repaying the debt in anticipation of refinancing following a merger deal with UltraTech Cement. Kesoram Industries expects the deal to lower its cost of borrowing.