{"id":568251,"date":"2020-12-23T03:47:36","date_gmt":"2020-12-23T03:47:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/"},"modified":"2020-12-23T03:47:36","modified_gmt":"2020-12-23T03:47:36","slug":"sign-of-the-times-for-cement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/","title":{"rendered":"Sign of the times for cement"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Suez Cement is going to go private after trying to buy out as many minority shareholders as possible<\/strong>. Shareholders sold some 12.4 mn shares for EGP 92.7 mn to Suez parent company Heidelberg Cement, the EGX <a href=\"https:\/\/ent.news\/2020\/12\/Suez-Cement-MTO.png\">said<\/a> without giving further details. Heidelberg <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de85716b-4f7a-4be9-a9d2-ea4b0179491b\">had targeted<\/a> 59.8 mn shares at a MTO price of EGP 7.5 a share. This would\u2019ve given it ownership of the remaining 33% it doesn't already hold.<\/p>\n<p><strong>Now that the MTO is over, Heidelberg Cement will take Suez\u2019s shares off the EGX. <\/strong><a href=\"https:\/\/ent.news\/2020\/12\/Suez-Cement-delising.pdf\">A regulatory filing (pdf)<\/a> earlier this month said that the Suez board had given the go-ahead to the German parent to purchase the shares of shareholders objecting to the delisting plan or negatively affected by it at the MTO price. Suez Cement subsidiary Tourah Cement, which is indirectly owned by Heidelberg, is also part of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/012a3e7f-30f4-4a21-9201-570102aeaef4\">same plan<\/a>.<\/p>\n<p><strong>What\u2019s going on? <\/strong>The cement industry in Egypt has been suffering for years from a drawn out <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66ab8fe3-9738-431a-82d6-dea8f9ecac6a\">supply glut<\/a> that has seen producers bleed cash, potentially leaving as many as six players <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b9a69a8-c5bc-4f4a-b99a-f4475543bd8a\">on the cusp of exiting the market<\/a>. Tourah Cement <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/\">suspended operations<\/a> last year, and is currently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3344fbed-245d-4ec3-9d37-e1fbfd2ade67\">struggling to return to get into the black<\/a>. Suez Cement\u2019s losses have also been widening in recent quarters, with sales struggling to pick up.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Suez Cement is going to go private after trying to buy out as many minority shareholders as possible. Shareholders sold some 12.4 mn shares for EGP 92.7 mn to Suez parent company Heidelberg Cement, the EGX said without giving further details. Heidelberg had targeted 59.8 mn shares at a MTO price of EGP 7.5 a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":568252,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[130,72,7128,131,1784],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-construction","tag-enterpriseam","tag-ma-watch","tag-manufacturing","tag-suez-cement","wpautop","entry"],"acf":{"mongo_id":"aba30700-0c1e-4275-a635-508dc6e31d6e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/394.jpg","photo_position":"above","related_issue":[568243],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sign of the times for cement - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sign of the times for cement\" \/>\n<meta property=\"og:description\" content=\"Suez Cement is going to go private after trying to buy out as many minority shareholders as possible. Shareholders sold some 12.4 mn shares for EGP 92.7 mn to Suez parent company Heidelberg Cement, the EGX said without giving further details. Heidelberg had targeted 59.8 mn shares at a MTO price of EGP 7.5 a [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-23T03:47:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/394.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Sign of the times for cement\",\"datePublished\":\"2020-12-23T03:47:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/\"},\"wordCount\":220,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/394.jpg?fit=%2C&ssl=1\",\"keywords\":[\"construction\",\"EnterpriseAM\",\"M&amp;A Watch\",\"Manufacturing\",\"Suez Cement\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/\",\"name\":\"Sign of the times for cement - 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The MTO is for\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/331.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575480,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/suez-mto-for-100-of-tourah-cement-kicks-off-today\/","url_meta":{"origin":568251,"position":1},"title":"Suez MTO for 100% of Tourah Cement kicks off today","author":"enterpriseam admin","date":"15 October 2020","format":false,"excerpt":"Shareholders in Portland Tourah Cement Company (Tourah Cement) will be able to subscribe to a mandatory tender offer by parent company Suez Cement starting today, the EGX said. The offer, which targets 20.075 mn shares at EGP 7.12 apiece, will expire on 19 November. Subscribed shares will then be transferred\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559566,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/26\/an-acquisition-here-a-stake-sale-there\/","url_meta":{"origin":568251,"position":2},"title":"An acquisition here, a stake sale there \u2026","author":"enterpriseam admin","date":"26 January 2021","format":false,"excerpt":"Suez Cement has sold its 51% stake in Kuwait\u2019s Hilal Cement for EGP 155.8 mn, the company said in a disclosure (pdf) to the EGX, offloading some 51.7 mn shares at KWD 0.058 apiece, the EGX-listed company said. Hilal later confirmed that Suez Cement\u2019s representatives had resigned from the board.A\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/326.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":636131,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/21\/mondi-paper-sales-buys-stake-in-suez-bags-prepares-mto\/","url_meta":{"origin":568251,"position":3},"title":"Mondi Paper Sales buys stake in Suez Bags, prepares MTO","author":"enterpriseam admin","date":"21 December 2017","format":false,"excerpt":"M&A WATCH- Heidelberg Cement subsidiaries Suez Cement and Tourah Cement have signed agreements to sell their respective stakes of 53.32% and 4.52% in Suez Bags to Mondi Paper Sales, according to bourse disclosures. Both sales were for EGP 26.01 per share and the transaction is contingent on board approvals. Once\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625402,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/05\/mondi-completes-suez-bags-acquisition\/","url_meta":{"origin":568251,"position":4},"title":"Mondi completes Suez Bags acquisition","author":"enterpriseam admin","date":"5 August 2018","format":false,"excerpt":"M&A WATCH- Mondi completes Suez Bags acquisition. The EGX announced on Thursday that Mondi Paper Sales completed its acquisition of Suez Bags, having bought 7.23 mn shares at EGP 26.01 per share in a EGP 188.1 mn transaction, Al Mal reports, citing a bourse statement. The offer price valued the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628265,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/mondi-plans-to-delist-suez-bags-once-acquisition-is-complete\/","url_meta":{"origin":568251,"position":5},"title":"Mondi plans to delist Suez Bags once acquisition is complete","author":"enterpriseam admin","date":"28 June 2018","format":false,"excerpt":"M&A WATCH- Mondi Paper Sales is reportedly planning to delist Suez Bags from the EGX after it completes the acquisition of a 70.1% stake in the company, Al Mal reports, providing no reason for the decision. 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