07 September 2017
Loma Negra files for US$100m initial public offering 07 September 2017
Argentina/US: Loma Negra has filed for a US$100m initial public offering (IPO) on the New York Stock Exchange. The subsidiary of Brazil’s InterCement wants to sell shares of Loma Negra in Argentina and New York to raise cash and cut debt, according to sources quoted by Reuters. Proceeds from the offering will be used to reduce debts at InterCement’s parent company Camargo Correa. The Brazilian company originally purchased Loma Negra in 2005 for US$1bn.
West Bank case against CRH dismissed by court 07 September 2017
Israel: A US$34bn lawsuit by Palestinian activists against a group of businesses including CRH has been dismissed by a court in Washington DC. The activists had tried to sue various groups with connections to Israel for allegedly ‘profiteering’ from the building of Jewish settlements in the West Bank, according to the Irish Independent newspaper. CRH was targeted due to its former co-ownership of Nesher, which produced cement used by the Israeli government in the West Bank. Before it sold its 25% stake in the Israeli cement producer in late 2015 CRH had received protests at its annual general meeting.