Displaying items by tag: offer
India: JSW Cement has acquired a promoters' share in Shiva Cement and has also launched an open offer to acquire a 32% stake from public shareholders in the company. JSW Cement, with Sun Investments Private and Reynold Traders, has made an open offer to the public equity shareholders of Shiva Cement to buy up to a 32% share in the company at a value of US$12.8m. In late September 2016 promoters of Shina Cement held a 37.15% stake, while public shareholders held the remaining 62.85%, according to Indian media.
Trinidad & Tobago: Cemex has increased its offer to buy a controlling stake in Trinidad Cement. The cement producer has instructed its subsidiary Sierra Trading to make a higher offer and take-over bid with a value of US$101m with a deadline of 24 January 2017. Previously, in early December 2016 it offered US$89m. The amended offer is dependent on Cemex acquiring control of Trinidad Cement, among other conditions. In late December 2016 the directors of Trinidad Cement advised shareholders to reject Cemex’s offer because it was seen as poor value.