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Construction Materials

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  • March 12- Shares of Summit Materials Inc, a cement maker controlled by Blackstone Group LP, rose as much as 12.5 percent in their trading debut on Thursday, valuing the company at $1.87 billion. The offering was priced at $18 each, the midpoint of the expected range of $17- $19. Summit Materials' valuation takes into account 92.26 million outstanding shares, if all...

  • March 11- Cement maker Summit Materials Inc's initial public offering was priced at $18 per share, according to a market source, valuing the Blackstone Group- controlled company at $1.67 billion. The company raised about $400 million after its offering of 22.2 million class A shares was priced at the midpoint of the expected range of $17- $19 per share.

  • Summit Materials IPO priced at $18/share - market source Wednesday, 11 Mar 2015 | 5:15 PM ET

    March 11- Cement maker Summit Materials Inc's initial public offering was priced at $18 per share, according to a market source, valuing the Blackstone Group- controlled company at $1.67 billion. The company raised about $400 million after its offering of 22.2 million class A shares was priced at the midpoint of the expected range of $17- $19 per share.

  • One way to (possibly) make money in Cuba Wednesday, 11 Mar 2015 | 1:23 PM ET
    A privately owned party supply store in Havana, Cuba.

    The founder of an investment firm is raising money for a private equity fund geared toward direct investment in Cuba.

  • ZURICH, March 9- Swiss company Holcim came under pressure on Monday to secure improved terms for its shareholders in a planned merger with France's Lafarge that would create the world's largest cement maker. Holcim's largest stakeholder, Thomas Schmidheiny, who owns about 20 percent of the company, is demanding a better deal, Swiss weekly SonntagsZeitung...

  • DAKAR, March 5- Private equity will play a key role in developing Africa given the massive needs for capital on the continent, says Blackstone Group, which is focusing on infrastructure projects involving power generation and transmission. CEO Steve Schwarzman said he would continue to seek partners like Aliko Dangote-- Africa's richest man, with whom...

  • Boral: Cost cuts, house boom drive profits   Tuesday, 10 Feb 2015 | 8:43 PM ET
    Boral: Cost cuts, house boom drive profits

    Mike Kane, CEO of Boral, says significant cost cuts for the past 2 years and improving housing sectors in key markets like Australia and the U.S. helped the firm to return to profitability.

  • *Lafarge and Holcim selling assets as part of merger. DUBLIN, Feb 2- Irish building supplies group CRH has agreed to pay 6.5 billion euros for assets Lafarge and Holcim were obliged to sell ahead of their planned merger. France's Lafarge and Swiss peer Holcim announced merger plans last year, hoping to cut costs and tackle overcapacity and weak demand.

  • CRH to buy Lafarge, Holcim assets for $7.3B Monday, 2 Feb 2015 | 1:42 AM ET
    Construction crews work on a freeway overpass along Highway 101 in Novato, California.

    Irish building supplies group CRH said it had agreed to pay $7.35 billion for assets Lafarge and Holcim had to sell ahead of their planned merger.

  • *Lafarge and Holcim selling assets as part of merger. DUBLIN, Feb 1- Irish building supplies group CRH said on Sunday it had agreed to pay 6.5 billion euros for assets Lafarge and Holcim were obliged to sell ahead of their planned merger. France's Lafarge and Swiss peer Holcim announced merger plans last year, hoping to cut costs and tackle overcapacity and weak...

  • FRANKFURT/ LONDON, Jan 22- Irish cement maker CRH and a consortium led by Blackstone are battling for assets which Lafarge and Holcim must sell ahead of their planned merger, several people familiar with the matter said. France's Lafarge and Swiss peer Holcim announced merger plans last year, hoping to cut costs and tackle overcapacity and weak demand.

  • LONDON, Jan 15- Frantic trading after the Swiss National Bank scrapped its euro cap on the franc on Thursday drove Swiss stocks down nearly 9 percent, their biggest one-day percentage fall for at least 25 years. One trader described the central bank's move as "carnage", while Swatch Chief Executive Nick Hayek called the franc's surge in value against the euro an...

  • LONDON, Jan 15- Frantic trading after the Swiss National Bank scrapped its cap on the franc drove Swiss stocks down 10.2 percent on Thursday, putting them on track for their biggest one-day fall in at least 25 years. Some traders described the central bank's move as "carnage", while Swatch Chief Executive Nick Hayek called the franc's surge in value against the euro...

  • FACTBOX-Why scrapping the Swiss currency cap matters Thursday, 15 Jan 2015 | 11:35 AM ET

    *Switzerland more expensive for tourists, Davos elite. TOURISM- The cost of a holiday in Switzerland, already one of Europe's most expensive ski destinations, just went through the roof in the middle of the busy winter sport season. Even before the franc's surge, four Swiss cities- Zurich, Geneva, Basel and Bern- were among the 10 most expensive places in the world for...

  • LONDON, Jan 15- Frantic foreign exchange trading after the Swiss National Bank scrapped its euro cap on the franc took $100 billion off the value of Switzerland's blue-chips on Thursday, putting them on track for their biggest one-day fall in at least 25 years. The Swiss SMI index slumped 10 percent, with stocks including Swatch, luxury-goods firm Richemont and...

  • Currency market furore wipes $100 bln off Swiss stocks Thursday, 15 Jan 2015 | 6:20 AM ET

    LONDON, Jan 15- Frantic foreign exchange trading after the Swiss National Bank scrapped its euro cap on the franc took $100 billion off the value of Switzerland's blue-chips on Thursday, putting them on track for their biggest one-day fall in at least 25 years. The Swiss blue-chip SMI index slumped more than 8.6 percent, with stocks including Swatch,...

  • Dec 23- Germany's HeidelbergCement AG is negotiating to sell Hanson Building Products Ltd, a maker of concrete and clay building products, to private equity firm Lone Star Funds, according to people familiar with the matter. HeidelbergCement is weighing a sale to Lone Star as a way to shed the non-core unit more quickly than through an initial public offering,...

  • FRANKFURT/ LONDON, Dec 16- The battle for the assets cement firms Lafarge and Holcim must sell to get the go-ahead for their merger will likely be between three groups, several people familiar with the matter said. France's Lafarge and Swiss peer Holcim promised to sell overlapping assets worth about 12 percent of their combined revenues to secure European...

  • BRUSSELS, Dec 15- European Union antitrust regulators on Monday approved the proposed merger of France's Lafarge and Swiss peer Holcim to create the world's biggest cement maker after they promised to sell a swathe of overlapping assets. Holcim and Lafarge said the package, with the exception of a minor change in France, was about the same as that announced in...

  • JOHANNESBURG, Dec 10- South African stocks rebounded on Wednesday, led by gold mining companies such as Gold Fields and AngloGold Ashanti which rose on the back of a firm gold price and a weaker rand. Gold Fields was the biggest climber on Johannesburg's broader All-share index, gaining 6.6 percent to its highest level in more than a year. Africa's largest gold...