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Nirma to Acquire India Cement Plants From @LafargeHolcim for $1.4B

Nirma to Acquire India Cement Plants From @LafargeHolcim for $1.4B

Economic Times. LafargeHolcim said it will continue to operate in India through its subsidiaries ACC Ltd. and Ambuja Cements Ltd. with a combined cement capacity of more than 60 million tonnes and a distribution network that extends across the entire country. “This agreement is an important step in our CHF 3.5 billion divestment program,” said LafargeHolcim CEO Eric Olsen. “With this deal, two thirds of the program has been secured and the remainder of the program is well on track. We are confident that we will meet our target by the end of this year.” In March, LafargeHolcim agreed to divest its South Korean business Lafarge Halla Cement Corp. to South Korea’s private equity fund Glenwood Private Equity, and Hong Kong-based private equity fund Baring Private Equity Asia, for 630 billion won ($542 million) . LafargeHolcim has a divestment target of CHF 3.5 billion in 2016 and has agreed to divest its minority shareholding in Saudi Arabia. The company has also expanded its joint-venture with SNI, its historical partner in Morocco, by merging Lafarge Ciments Maroc and Holcim Maroc to create LafargeHolcim Maroc. LafargeHolcim is the largest worldwide manufacturer of building materials, primarily cement, aggregates and concrete, with a presence in 90 countries and 115,000 employees. It was formed by the merger on July 2015 of giant cement companies Holcim and Lafarge which had combined net sales of CHF 33 billion (EUR 27 billion) in 2014. The combined group now has a manufacturing capacity of 368.5 million tons a year, and reported combined net sales of 29.5 billion Swiss francs ($29.87 billion) in 2015. LafargeHolcim is the industry benchmark in R&D and serves from the individual homebuilder to the largest and most complex projects. The group is based in Switzerland but its central functions remain divided between Zurich and Paris.]]>

Brazil's GP Investments Buys Control of Spice PE From Fortress and Newbury

Brazil's GP Investments Buys Control of Spice PE From Fortress and Newbury

GP Investments Ltd, has agreed to acquire a controlling stake in Zug, Switzerland-based Spice Private Equity Ltd (SWX: SPCE) from Fortress Investment Group LLC and Newbury Associates LLC. GP will pay a purchase price of USD 35.25 per share, representing a 39% premium to yesterday’s SPCE closing share price, or a 15% discount to the last published economic NAV of March 31, 2016, said Spice in a filing with the SIX Swiss Exchange. Closing of the transaction is scheduled to take place right after the annual general meeting of shareholders of Spice, scheduled to be held on June 28, 2016. Upon closing, GP will indirectly hold 58.48% of the shares and voting rights of Spice. Spice Private Equity Ltd is an investment company that was founded in 1999. In 2013, following a major restructuring, the company decided to focus on private equity in emerging markets and to increase its emphasis on co-investments and secondary fund investments. Its shareholders include leading institutions based in both established and emerging markets. Spice Private Equity is managed by Zurich-based GP Advisors, which is owned by GP Investments. GP Investments Ltd (also GP Investimentos) (BM&F Bovespa: GPIV11) is a leading private equity and alternative investments firm in Latin America, with more than 20 years’ experience in corporate investing. The company has a strong track record of successful equity capital market transactions, delivering strong returns and building long-lasting enterprises. Since its inception, the company has raised approximately $5 billion from international investors and has invested in more than 50 companies across 15 sectors. In May 2006, GP Investments, Ltd. completed its initial public offering, becoming the first listed private equity firm in Brazil. The firm’s shares are listed on the Luxembourg Stock Exchange and trade on BM&F Bovespa, the Brazilian Stock Exchange, via Brazilian Depositary Receipts (BDRs). The firm was founded in 1993 and is headquartered in Hamilton, Bermuda, with offices in São Paulo, Brazil, New York, and Zurich. GP Investments was originally founded by legendary Brazilian investor Jorge Paolo Lemann, who sold the firm in 2004 to his junior partners and then went on to found 3G Capital. Lemann is controlling shareholder and board member of Anheuser-Busch InBev. Photo: Antonio Bonchristiano, Deputy Chairman of Spice Private Equity, Board Member and CEO of GP Investments, São Paulo, Brazil.]]>