Displaying items by tag: Sale

Nigeria: Holcim has completed the divestment of its Nigerian business, selling its entire 83.8% stake in Lafarge Africa to Huaxin Cement in a deal valued at US$1bn.

Holcim regional head Asia, Middle East & Africa Martin Kriegner said “We are pleased to have found in Huaxin Cement a trusted buyer that is committed to further developing the business in Nigeria. At the same time, the sale proceeds give Holcim additional capacity for our growth-focused capital allocation. We wish Lafarge Africa and Huaxin Cement continued success.”

Ukraine/Ireland: Divinereach, a company led by Hyundai Ireland chair Eugene O’Reilly, has bought a 25% stake in Dyckerhoff Ukraine from CRH, according to Business Post Ireland. The sale was a condition of CRH’s 2024 acquisition of Dyckerhoff from Italy-based Buzzi.

Local competitor Kovalska has opposed the Dyckerhoff acquisition, arguing it created a duopoly with CemIn West and gave CRH a 46% market share, exceeding limits under Ukrainian and EU monopoly law.

CRH has defended its position, saying the acquisition was completed in accordance with accepted international practice, in full compliance with all legislative requirements and with the approval of the Antimonopoly Committee of Ukraine (AMCU).

CRH said “While we are monitoring the legal challenge to the AMCU approval in Ukraine... we are focused on investing in our businesses and supporting our employees.”

Kovalska plans to appeal the AMCU’s approval of the acquisition to the Ukrainian supreme court in September 2025.

Kenya: A group of four flour mill owners and associates has acquired Savannah Cement for US$29.4m, according to local press. The producer had been under administration for two years after it owed lenders KSB and Absa Bank debts of US$108m. The Competition Authority of Kenya approved the deal on 25 August 2025 without conditions, saying it posed no competition or public interest concerns.

India: UltraTech Cement will offload a 6.49% stake in India Cements through an open market sale, following approval by its committee of directors and officers. The producer acquired control of India Cements in July 2024. The company did not disclose the value of the planned sale.

Chile: cbb (formerly Cementos Bío Bío), has announced a binding agreement to sell all of its shares to Belgium-based producer Carmeuse, which will launch a tender offer for 100% of the shares of the company ‘no later than 13 August 2025’, according to Noticias Financieras. Shareholders representing 64.57% of the shares signed the Agreement to Tender, obliging them to transfer their holdings to Carmeuse subsidiary Carmel Holdings. The offer will value the company at US$505m, equivalent to US$1.91/share.

Carmeuse specialises in lime and limestone derivatives and operates 90 production sites worldwide. The acquisition aligns with its interest in cbb’s lime production through subsidiary Bío Bío Cales, which operates plants in Antofagasta and Copiapó.

The announcement of the sale comes after a race for control of the company at the end of 2024. In December 2024, Peru-based Yura acquired 0.81% of shares through a public offer, increasing its stake to 20.75%. Mississippi Lime Company also submitted a non-binding offer for the company for US$1.89/share in May 2024, but later withdrew.

Argentina: An investment group presided over by Argentina-based businessman Marcelo Mindlin has moved one step closer to becoming the new owner of the cement company Loma Negra. The local group is negotiating the acquisition of Loma Negra shares that are currently in the hands of InterCement, the cement company of the Brazil-based holding company Camargo Corrêa. If the deal goes through, Mindlin will control 52% of Loma Negra’s shares, while the remaining shares are listed on the Buenos Aires and New York stock exchanges.

InterCement said in late July 2025 that it had reached an agreement in principle to negotiate the sale of the shares of Loma Negra, within the framework of a restructuring of its liabilities. The deadline for the completion of negotiations is 15 August 2025. Subsidiary Loma Negra is the leading cement producer in Argentina, with a market share of close to 45%. The company will celebrate its centenary in 2026.

Morocco: Votorantim Cimentos has completed the full sale of its partnership and all associated assets in Morocco to Heidelberg Materials. The transaction followed regulatory approval and clearance in Morocco, with the delivery of assets and financial settlement finalised. The commercial terms of the transaction were not disclosed.

China: West China Cement will sell Yili Yaobai Cement, Huocheng County Nangang Xixin Mining Industry and Xinjiang Baihang Environmental Protection Technology to Anhui Conch Cement and Conch (Shaanxi) for US$55m via its subsidiary Yaobai Special Cement Group, according to MT Newswires. It will also divest three additional assets for US$22.5m, US$128m and US$23.7m under separate agreements. The sales remain subject to board approval and other conditions.

Denmark: FLSmidth has entered into a share purchase agreement with Nrep and AG Gruppen to sell its subsidiary Matr. No 2055 A/S, which owns the land and buildings at Vigerslev Allé 77 in Valby, Copenhagen. The company has been based at the Valby site since 1899, with the current buildings built in 1956. In 2022, FLSmidth announced plans to relocate its headquarters to a news site in Havneholmen, Copenhagen in late 2025.

FLSmidth expects net cash proceeds of approximately US$112m upon the closing of the transaction, scheduled for the end of the first quarter of 2026, subject to approval by the Danish Consumer and Competition Authority.

Türkiye: Cementir Holding subsidiaries Çimentaş and Alfacem have entered a binding agreement to sell 100% of Kars Çimento to Arkoz Madencilik. Kars owns a 0.6Mt/yr integrated cement plant in northeastern Türkiye. The transaction is valued at €51m and is expected to complete by the end of 2025, subject to regulatory approvals. The company currently employs approximately 90 people.

Cementir Holding chair and CEO Francesco Caltagirone said “This divestment is part of our commitment to enhancing our operational efficiency and strengthening our competitive positioning by focusing on high-growth regions.”