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News Stake

Displaying items by tag: Stake

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UltraTech Cement increases stake in Continuum MP Windfarm

02 October 2024

India: UltraTech Cement will procure an additional 7MW of wind-solar hybrid power production capacity from Continuum MP Windfarm, increasing total procurement from 14MW to 21MW. This power is supplied from its 100MW project in Ratlam District in Madhya Pradesh. To facilitate this, UltraTech has raised its shareholding in Continuum MP Windfarm from 3.28% to 5.46% by investing approximately US$2.9m. The acquisition is expected to complete within 120 days following amendments to the power purchase Agreement, share purchase agreement, and shareholders agreement.

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CRH Ukraine majority stake in Dyckerhoff Cement Ukraine approved

09 September 2024

Ukraine: The Antimonopoly Committee of Ukraine (AMCU) has approved CRH Ukraine's acquisition of over 50% of the voting shares in Dyckerhoff Cement Ukraine. This move is part of a broader agreement that includes anti-competitive measures to be implemented within 24 months post-transaction. CRH Ukraine will acquire a 99.9775% stake in Dyckerhoff, with expectations for the European Bank for Reconstruction and Development to potentially join as an investor following a mandate signed in December 2023. 

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Titan Cement International to list US business for IPO

06 September 2024

US: Titan Cement International has announced via press release its intention to proceed with the initial public offering (IPO) of its US business, Titan America. The listing will involve an IPO of a minority stake and is designed not to create any additional tax burden. The transaction is anticipated to be completed in early 2025.

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Cemex acquires majority stake in RC-Baustoffe

04 September 2024

Germany: Cemex has acquired a majority stake in the Berlin-based recycling company RC-Baustoffe to enhance its circularity business Regenera. The company processes construction, demolition and excavation materials. The acquisition integrates RC-Baustoffe with Regenera, allowing the facility to process up to 400,000t/yr, which will be turned into repurposed aggregates for concrete production.

CEO of Cemex, Fernando González, said “With acquisitions such as this, Cemex continues to strengthen its commitment to circularity through Regenera as well as promoting the world’s transition to a more circular economy. Construction and demolition materials account for more than 30% of global ‘waste’ streams and reintegrating these materials into the construction value chain can reduce the use of virgin raw materials."

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Dalmia Bharat acquires stake in Truere Surya for solar power project

04 September 2024

India: Dalmia Bharat announced that its subsidiary, Dalmia Cement (Bharat), has entered into a share subscription and shareholders agreement to acquire a 26% stake in Truere Surya for US$5.3m. Truere Surya will establish a solar power project in Tamil Nadu, aligning with Dalmia Bharat’s goals to become carbon negative by 2040.

The solar project will have a capacity of 128MW. Completion of the transaction is anticipated within 4 - 6 months, pending customary conditions.

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Savannah Clinker offers US$197m for Bamburi Cement

28 August 2024

Kenya: Savannah Clinker has offered to acquire Bamburi Cement outright for US$197m, 8% higher than an existing bid for the company of US$183m from Tanzania-based Amsons Industries. Business Daily News has reported that Savannah Clinker requires a minimum stake of 60% in order to finalise the deal. The company said that it could aim to complete the deal before March 2025.

Savannah Clinker owns an upcoming clinker plant and limestone mine in Kitui. Its owner Benson Sande Ndeta formerly held a majority of shares in Savannah Cement, which went into administration in mid-2023.

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GQG Partners enlarges stake in Ambuja Cements to 2.4%

27 August 2024

India: Ambuja Cements’ minority shareholder GQG Partners has increased its stake in the company from 1.4% to 2.4%. The value of the newly acquired shares was US$200m, the New Indian Express newspaper has reported. Other recent investors in the company, following a divestment of 2.8% of shares by its parent, Adani Group, include the Indian National Pension System Trust and SBI Life Insurance. They bought total shares worth US$62.6m and US$59.6m respectively. Following the deals, majority shareholder Adani Group now holds an 67% stake in Ambuja Cements.

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Adani Group to sell stake in Ambuja Cements

23 August 2024

India: Adani Group is planning to sell a 2.84% stake in Ambuja Cements through its entity Holderind Investments, aiming to raise US$500m. The sale of 69.96 million shares will be at a price of US$7.15 per share. This move is part of a strategy to divest part of its substantial 70.33% holding in the cement company. Holderind Investments itself accounts for 50.90% of this ownership.

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Ratanarak Group increases stake in Siam City Cement

20 August 2024

Thailand: The Ratanarak Group, through its subsidiary Sunrise Equity, has increased its stake in Siam City Cement to 71.88% by acquiring a 25.54% share from Singapore-based Jardine Cycle & Carriage for US$354m. This move consolidates the Ratanarak Group's position as the sole major and controlling shareholder.

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CRH Ukraine to acquire major stake in Dyckerhoff Cement Ukraine

16 August 2024

Ukraine: CRH Ukraine has announced plans to purchase a 99.9775% stake in Dyckerhoff Cement Ukraine, which operates two cement plants in the Rivne and Mykolayiv regions, according to Business World Magazine. The notification was made public on 12 August 2024, detailing the acquisition of over 158 million shares. Currently, CRH and its affiliates do not hold any shares in Dyckerhoff Cement Ukraine.

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