Lafarge buys cement unit in South Africa

Article Abstract:

Lafarge SA of France has acquired the Blue Circle cement unit of South African construction group Murray & Roberts Holdings Ltd. for R1.53 billion, or $244.6 million. Murray & Roberts stipulated in a statement that Lafarge plans to have partnerships with investment groups in South Africa to broaden the domestic activities of Blue Circle. The sale of Blue Circle cement will substantially bolster the financial standing of Murray & Roberts and virtually abolish the company's outstanding debts. Murray & Roberts also stressed that the sale of Blue Circle cement signifies the company's determination to concentrate on its core civil engineering and construction businesses.

Comment:

Buys the Blue Circle cement unit of South African construction group Murray & Roberts Holdings Ltd for R1.53 bil, S Africa

South Africa, Murray and Roberts Holdings Ltd., Lafarge SA

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Jalaprathan Cement plans to sell stock to Ciments Francais

Article Abstract:

Jalaprathan Cement PCL, a cement manufacturer based in Thailand, will sell 29.6 million of its shares worth a total of 400.4 million baht to cement manufacturer Ciments Francais SA of France. Ciments Francais will become the majority stockholder with almost 55% of ownership in Jalaprathan Cement. Jalaprathan Cement will need stockholders to sanction the agreement on Nov. 26, 1998. Afterwards, Jalaprathan Cement intends to release 36.8 million shares of convertible debentures worth 515.2 million baht because of debt obligations to its creditors.

Comment:

Will acquire 29.6 million of shares in cement manufacturer Jalaprathan Cement PCL of Thailand

Ciments Francais S.A., Jalaprathan Cement PCL

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Hoderbank buys Siam City stake

Article Abstract:

Holderbank Financiere Glaris Ltd., which is the largest cement producer across the globe, acquired a 24.99% interest in Siam City Cement PCL of Thailand for $153 million. The Holderbank-Siam City deal stunned the market as Holderbank acquired the shares of Siam City, which is the second-biggest cement producer in Thailand, at over thrice the market value, although the transaction does not give Holderbank a controlling interest. Switzerland-based Holderbank anticipates to acquire newly issued equity in Siam City for $55 million.

Comment:

Acquires a 24.99% interest in Siam City Cement PCL of Thailand for $153 mil, Thailand

Switzerland, "Holderbank" Financiere Glaris Ltd., Siam City Cement PCL

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