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Displaying items by tag: Bid

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Bestway considers bid for Dewan Cement plant

04 January 2017

Pakistan: Bestway Cement says it is considering making a bid for Dewan Cement's north plant and related assets. It joins Lucky Cement, Fecto Cement, Kohat Cement and a Chinese company in expressing interest in Dewan Cement, according to the News International newspaper. Bestway added that the final outcome will depend on due diligence and the bidding process.

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Hyundai Sungwoo Holdings joins queue of bidders for Hyundai Cement

22 December 2016

South Korea: Hyundai Sungwoo Holdings has reportedly made a bid for Hyundai Cement. It joins a shortlist of potential buyers including Ssangyong Cement Industrial, Halla Cement, United Asset Management Company (UAMCO) and IMM Private Equity, according to the Maeil Business Newspaper. Hyundai Sungwoo Holdings, a manufacturer of car parts, was previously part of the same group that also owned Hyundai Cement.

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Fecto Cement to bid for Dewan Cement’s Hattar plant

15 December 2016

Pakistan: Fecto Cement plans to bid for the Hattar cement plant owned by Dewan Cement. Abdul Samad, Fecto Cement’s company secretary, said that the company would evaluate the information to be provided by the financial advisor of Dewan Cement for carrying out due diligence in relation to the prospective acquisition of the plant. He added that the sale would be subject to finalisation of commercial terms, completion of due diligence, execution of definitive agreement and receipt of regulatory approvals.

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Shree Cement wins coal contract in Chhattisgarh

19 July 2016

India: Shree Cement has won its bid for a coal contract from South Eastern Coalfields Ltd (SECL) for 80,000t/yr. The cement producer will gain the supply from the New Kusmunda mine in Chhattisgarh for US$14/t. In May 2016 the company announced plans to build a 2.8Mt/yr clinker production line at its integrated cement plant in Raipur, Chhattisgarh. The US$104m line, excluding land and other infrastructure costs, is set to be completed by March 2018.

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HeidelbergCement shortlists bidders for Belgium and US assets

27 June 2016

Belgium/US: HeidelbergCement has made a shortlist of potential bidders for assets in Belgium and the US that should be divested as part of its acquisition of Italcementi, according to Bloomberg. Bidders for Italcementi’s Belgian business include Turkey’s Çimsa Çimento and Italy’s Cementir Holding. The business are valued at around US$400m. Bidders for Italcementi’s US assets include Summit Materials and CRH. This business are valued at around US$600m according to sources quoted by Bloomberg. All shortlisted bidders will face a due diligence process.

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Nine companies bid for Lafarge India assets

13 April 2016

India: LafargeHolcim has received nine non-binding offers for its subsidiary Lafarge India. The bidders include multinational cement producers CRH, HeidelbergCement and China Resources. Local companies which have made bids include JSW Infrastructure, Piramal Enterprises and Ramky Infrastructure, which have deals with private equity firms CVC Capital, Goldman Sachs Private Equity and Carlyle respectively. Blackstone, Baring Asia and CPPIB have also submitted a bid as part of a consortium. Bain Capital and Advent International have also submitted their bids individually, according to Business Standard.

Following a shortlisting and due diligence process a final bid will be selected. A final bidder is expected to be announced by the end of June 2016.

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Shree Cement's highest bidder for limestone deposits in Chhattisgarh

19 February 2016

India: Shree Cement has offered the highest bid in an auction for limestone deposits at Karhi Chandi, Baloda Bazar in Chhattisgarh. The site has estimated reserves of 155Mt of limestone in an 252 hectare area. Official confirmation from the state government that confirms Shree Cement as the winner of the auction is still awaited.

Local press reports that Shree Cement offered US$4/t for the deposit. The sale was the first non-coal mining lease auction by the state government. Shree Cement has plans to expand its cement plant at Raipur.

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Lafarge’s Indian divestments receive six bids

20 May 2015

India: Six foreign and domestic cement companies, along with one private equity firm, have expressed interest in buying the assets that Lafarge is divesting in India before it closes its merger with Holcim. The bids were in excess of US$627m.

The deadline for submitting non-binding bids for the assets expired on 16 May 2015. Ahead of that deadline, local media reported that bids came from Shree Cement, Chettinad Cement, HeidelbergCement India, The Ramco Cements, CRH and Blackstone Group.

As a precondition to clearing Indian leg of the LafargeHolcim, the Competition Commission of India (CCI) directed Lafarge to sell two of its assets in Chhattisgarh and Jharkhand. These are a cement plant at Sonadih, Chhattisgarh and a grinding plant at Jojobera, Jharkhand, with a total capacity of approximately 5Mt/yr. In its directions, the CCI said that Lafarge should sell its assets 'to relatively smaller players, having an installed capacity of less than 5% of their total capacity in the relevant geographic market.'

With the non-binding bids in, Lafarge is likely to shortlist bidders by the middle of June 2015. The deal is likely to be concluded in July 2015.

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UltraTech linked to bid for Lafarge assets in Brazil

15 October 2014

India/Brazil: UltraTech Cement, India's largest cement producer, intends to bid for assets owned by Lafarge in the south-eastern region of Brazil, according to Indian press. If the bid is successful it will be the company's largest overseas deal to date. The Aditya Birla Group company currently holds small assets in west Asia.

The Brazilian assets on sale include three integrated cement plants and two grinding stations with a total capacity of 3.6Mt/yr, as well as one ready-mix plant. The Lafarge assets are on sale as part of the divestment plant following the announcement of the LafargeHolcim merger.

UltraTech has an installed cement production capacity of 62Mt/yr. It has 12 integrated plants, one clinker plant, 16 grinding units and six bulk terminals with operations across India, United Arab Emirates, Bahrain, Bangladesh and Sri Lanka.

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CVC in discussion with Singapore government for Lafarge-Holcim asset bid

13 August 2014

UK/Singapore: The private equity firm CVC Capital Partners is in discussion with Singapore's Government Investment Corporation (GIC) about a combined bid for assets being sold by Holcim and Lafarge as they prepare to merge, according to Sky News. CVC is also understood to be talking to other state investment funds about the proposed deal.

At least two other private equity groups have been formed to bid for the divestments that Holcim and Lafarge are preparing to sell. Blackstone has teamed up with Cinven and the Canada Pension Plan Investment Board. BC Partners and Advent International are also preparing a joint bid. Initial offers are understood to be due in September 2014.

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