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| US$4.5 Billion: Normandy Mining (Australia) | top |
| Deal Size: | US$4.5 Billion |
| Type of Deal: | Acquisition of company |
| Country: | Australia |
| Specific asset under consideration: | Entire shareholding in Normandy Mining Limited |
| Deal Status: | Newmont Mining Corporation had acquired a relevant interest in more than 92% of the shares of Normandy Mining Limited. It has now satisfied the prerequisites to enable it to exercise its compulsory acquisition rights under Australian law to acquire all of the shares of Normandy that are not already owned by Newmont or its affiliates.
The company intended to exercise these compulsory acquisition rights promptly and planned to lodge the necessary materials with the applicable regulators and mailing the necessary materials to the remaining shareholders of Normandy. Holders of Normandy shares acquired through the process will receive the same consideration as is being paid under Newmont's bid for shares of Normandy. |
| Target/Acquired Company: | Normandy Mining Limited |
| Principal Activities: | Normandy Mining Limited is an internationally ranked mining company committed to gold, active in mineral exploration, mine development, mining and mineral processing. It is also a significant zinc concentrate producer. |
| Address: | 100 Hutt Street, Adelaide, 5000 South Australia, Australia |
| Website: | http://www.normandy.com.au |
| Contact Persons: | Robert J Champion de Crespigny
- Chairman &
Chief Executive Officer Peter J Bird - Executive General Manager Investor Relations Paul Dowd - Group Executive - Operations Robert Greenslade - Executive General Manager Business Development David Hillier - Group Executive eBusiness Bruce D Kay - Group Executive Exploration Rod Sharp - CEO Australian Magnesium Corporation Hans Umlauff - Group Executive Development Ken Williams - Group Executive Finance |
| Contact Numbers: | Head Office
Tel: 61 8 8303 1705 Head Office Fax: 61 8 8303 1994 Email: investor@normandy |
| Acquiror Company: | Newmont Mining Corporation |
| Principal Activities: | Newmont Mining is going for the gold all over the globe. The company, now #3 worldwide after AngloGold and Barrick Gold, will leapfrog to #1 when it acquires Normandy Mining (Australia's largest gold miner) and Canada's Franco-Nevada Corp. Newmont's Carlin (Nevada) Trend and other North American operations produce about 65% of its total gold production. The company, which acquired Battle Mountain Gold (mines in Canada, Bolivia, and Australia) in 2001, also has stakes in Peru (51%-owned Yanacocha Mine), Mexico (44%-owned La Herradura), Uzbekistan (50%-owned Zarafshan-Newmont), and Indonesia (80%-owned Minahasa). Newmont has proven and probable reserves of 66.3 million ounces of gold and 6.1 billion pounds of copper. |
| Address: | 1700 Lincoln St. Denver, CO 80203 |
| Website: | http://www.newmont.com |
| Contact Persons: | Ronald C. Cambre
- Chairman Wayne W. Murdy - President, CEO, and Director Bruce D. Hansen - SVP and CFO |
| Contact Numbers: | Head Office
Tel: 303-863-7414 Head Office Fax: 303-837-5837 |
| Remarks: | Following the takeover of Normandy Mining Limited by Newmont Mining Corporation, Newmont advised a number of changes to its representatives on the Board of Australian Magnesium Corporation Limited (AMC).
By mutual agreement Robert J. Champion de Crespigny has resigned as a Director of AMC. Two Newmont Australia executives, Hans Umlauff, Group Executive - Development, and Ken Williams, Chief Financial Officer, have joined the AMC Board. These changes will assist in providing the special skills set that the AMC Board will require for the future. John Dow, the newly appointed Managing Director of Newmont Australia, has also joined the AMC Board, replacing Ken Spencer, a former non-executive Director of Normandy. John started his working career with Newmont 24 years ago in Australia and has extensive international experience. |
| US$3.2 Billion: Hynix Semiconductor (Korea) | top |
| Deal Size: | US$3.2 Billion |
| Type of Deal: | Merger with DRAM manufacturer |
| Country: | Korea |
| Specific asset under consideration: | Failed semiconductor manufacturer |
| Deal Status: | Minority shareholders of Hynix Semiconductor waged a strong protest against the signing of a non-binding agreement on the sales of the bulk of the chipmaker's assets to U.S. rival Micron Technology, charging that the sale price is dog cheap.
The Hynix union also claimed that it would not approve the memorandum of understanding (MoU), as it was dictated by the government's political and financial ideology, ignoring growing market predictions that Hynix could survive on its own. |
| Target/Acquired Company: | Hynix Semiconductor |
| Principal Activities: | The company battles Samsung Electronics and Micron Technology for the crown as the world's largest maker of organic random access memory (RAM) chips. It also makes static random-access memories (SRAM's), flash memory and application specific integrated circuits. |
| Address: | San 136-1 Ami-ri, Bubel-eub Ichon, Kyonggi 467-860, South Korea |
| Website: | http://www.hynix.com |
| Contact Persons: | Chong-Sup Park
- Chairman and CEO Sung-Ho Park - President, COO, and Director Kyu-Chung Hho - SVP and CFO |
| Contact Numbers: | Head Office
Tel: 82 31 630 4114 Head Office Fax: 82 31 630 4103 |
| Acquiror Company: | Micron Technology Inc |
| Principal Activities: | Micron manufactures dynamic random-access memories (DRAMs), flash memories, and memory modules. The company has added Rambus DRAM and synchronous DRAM products to its line, and is developing embedded memory for digital video applications and other markets. Micron also offers core-logic chipsets incorporating its memory chips. The company has sold its MicronPC business and reduced its stake in former subsidiary Micron Electronics (renamed Interland), which now offers Web hosting services. It has also agreed to acquire Toshiba's DRAM business. |
| Address: | 8000 S. Federal Way Boise, ID 83707-0006 |
| Website: | http://www.micron.com |
| Contact Persons: | Steven R Appleton
- Chairman, President, and CEO Wilbur G Stover Jr - VP of Finance and CFO |
| Contact Numbers: | Head Office
Tel: 208-368-4000 Head Office Fax: 208-368-4435 |
| Remarks: | South Korea's Commerce Minister Shin Kook-hwan said the government will not intervene in a deal to sell core assets of troubled chipmaker Hynix Semiconductor Inc to Micron Technology Inc.
The signing of a memorandum of understanding (MOU) has brought several criticisms from the labor union, shareholders and even Hynix's suppliers. Critics argued that the debt rescheduling terms agreed for Hynix's non-memory operation is heavily in favor of Micron, where the U.S. chipmaker demanded that the Korean creditors write off KRW3.8 trillion of Hynix's outstanding debts out of KRW6.6 trillion in total. Hynix creditors have until today to decide whether to accept a US$3.4 billion offer from Micron signed in a provisional agreement. |
| US$1.2 Billion: Daewoo Motor (Korea) | top |
| Deal Size: | US$1.2 Billion |
| Type of Deal: | Acquisition of company |
| Country: | Korea |
| Specific asset under consideration: | Failed company Daewoo Motor |
| Deal Status: | Korea Development Bank (KDB) Governor Jung Keun-yong said the signing of a final contract for the sale of core assets of Daewoo Motor Co to General Motors Corp (GM) might go beyond April as the two parties have yet to narrow differences on some issues.
The bank governor said the two sides have reached agreement on key issues but have yet to narrow differences on tax and other minor issues. KDB said Daewoo Motor creditors and GM have agreed to delay the signing of a final contract originally scheduled for April 23 because completing work on the contract was taking more time than expected. |
| Target/Acquired Company: | Daewoo Motor |
| Principal Activities: | Korea's #2 automaker of passenger cars as well as commercial vehicles, buses and trucks. |
| Address: | 199 Chongchoo-dong, Pupyong-ku Inchon, South Korea |
| Website: | http://www.daewoomotor.com |
| Contact Persons: | Kong Byung-Ho - President |
| Contact Numbers: | Head Office
Tel: 82 32 520 2114 Head Office Fax: 82 32 520 4658 |
| Acquiror Company: | General Motors |
| Principal Activities: | General Motors (GM) has steered around competitors to remain the world's #1 maker of cars and trucks including brands such as Buick, Cadillac, Chevrolet, GMC, Pontiac, Saab, Saturn and Oldsmobile (which is being discontinued). GM also produces cars through its Holden, Opel and Vauxhall units. Non-automotive operations include Hughes Electronics (DIRECTV communications), Allison Transmission (heavy-duty automatic transmission) and GM Locomotive (locomotives, diesel). |
| Address: | 300 Renaissance Center Detroit, MI 48265 |
| Website: | http://www.gm.com |
| Contact Persons: | John F Smith Jr
- Chairman G Richard Wagner Jr - President, CEO and Director John M Devine - Vice Chairman and CFO |
| Contact Numbers: | Head Office
Tel: 313 556 5000 Head Office Fax: 313 556 5108 |
| Remarks: | General Motors Corp will take over 10 of Daewoo Motor's 24 overseas operations but will not include Daewoo Motor America in its pending deal to buy the Korean car maker.
Daewoo's US headquarters officials said they do not know what the future holds. The Company's US dealers have joined a group that has been raising money for a possible lawsuit. Creditors of Daewoo Motor and General Motors are set to sign a final takeover contract on Daewoo Motor's core assets in May. |
| US$804.42 Million: Westpac Banking Corporation Ltd (Australia) | top |
| Deal Size: | US$804.42 Million |
| Type of Deal: | Off-loading of consumer finance arm |
| Country: | Australia |
| Specific asset under consideration: | Consumer finance arm – AGC |
| Deal Status: | Australian Competition and Consumer Commission Chairman Alan Fels said the commission received strong objection from retailers over Westpac Banking Corp Ltd's plan to sell its consumer finance arm AGC to GE Capital for about A$1.5 billion. |
| Target/Acquired Company: | Westpac Banking Corporation Ltd |
| Principal Activities: | Australians can deposit their multi-colored plastic notes at one of Westpac Banking's more than 1,000 branches in Australia, New Zealand, and the Pacific Islands. The bank is one of the four major Australian banks, behind National Australia Bank, Commonwealth Bank of Australia, and Australia and New Zealand Banking Group. Westpac operates under such local nameplates as Bank of Melbourne, Challenge Bank, and Bank of Tonga (60%-owned), providing a range of banking and financial services to individual, commercial, and corporate customers. Subsidiaries provide business and auto dealer financing; investment advisory; and other services. |
| Address: | 60 Martin Place Sydney NSW 2000, Australia |
| Website: | http://www.westpac.com.au |
| Contact Persons: | David R. Morgan
- CEO Philip Chronican - CFO |
| Contact Numbers: | Head Office Tel: 61-2-9226-3311
Head Office Fax: 61-2-9226-4128 |
| Acquiror Company: | General Electric Capital Corporation |
| Principal Activities: | If you need to finance it, charge it, or insure it, General Electric Capital can help. Active in North America, Europe, and the Pacific Rim, the General Electric subsidiary makes up about half of GE's sales by offering personal and business financing worldwide. Consumer Services (accounting for almost 45% of its revenues) include private-label credit cards and mortgages. Industrial financing activities include leasing, lending, and equipment sales and services. The firm's Equipment Management group handles such transportation equipment as aircraft, trailers, and auto fleets. GE Capital also sells life and auto insurance and invests in real estate; it is buying real estate operating firm Security Capital Group. |
| Address: | 260 Long Ridge Rd. Stamford, CT 06927 |
| Website: | http://www.gecapital.com |
| Contact Persons: | Denis J. Nayden
- Chairman and CEO; SVP GE Company Michael A. Neal - President and COO; SVP, GE Company James A. Parke - Vice Chairman and CFO |
| Contact Numbers: | Head Office Tel: 203-357-4000 Head Office Fax: 203-357-6489 |
| Remarks: | None |
| US$750 Million: Asia Global Crossing Ltd (China) | top |
| Deal Size: | US$750 Million |
| Type of Deal: | Acquisition of majority stake |
| Country: | China |
| Specific asset under consideration: | US$750 million investment for a majority stake in Global Crossing |
| Deal Status: | Hutchison Whampoa Limited has invited the Singapore Technologies Telemedia to jointly purchase Asia Global Crossing, for US$750 million.
Hutchison Whampoa would be having a hard time assessing Asia Global Crossing because the bondholders of the company were bargaining on how to adjust the high interest rate bond issued by the company. |
| Target/Acquired Company: | Asia Global Crossing Ltd |
| Principal Activities: | Asia Global Crossing provides broadband Internet protocol-based data and voice communications to businesses and telecom carriers throughout the Asia/Pacific region. Asia Global Crossing owns 65% of Pacific Crossing-1, a subsea cable connecting Japan and the US, and it's constructing the East Asia Crossing, a fiber-optic subsea system interconnecting the Pacific Rim. Asia Global Crossing's infrastructure links to Global Crossing's worldwide network. Global Crossing, which formed Asia Global Crossing in 1999, owns nearly 60% of the company. Japan's SOFTBANK and Microsoft each own about 15% of Asia Global Crossing. |
| Address: | 360 N. Crescent Dr. Beverly Hills, CA 90210 |
| Website: | http://www.asiaglobalcrossing.com |
| Contact Persons: | Gary Winnick
- Chairman, Asia Global Crossing
and Global Crossing; Chairman and CEO, Pacific
Capital Group
Lodwrick M. (Lod) Cook - Co-Chairman, Asia Global Crossing and Global Crossing Ltd.; Chairman, Global Marine Systems; Vice-Chairman and Managing Director, Pacific Capital Group, Inc. John M. (Jack) Scanlon - Vice Chairman and CEO William (Bill) Barney - President and COO Stefan Riesenfeld - SVP and CFO |
| Contact Numbers: | Head Office
Tel: 310-385-5200
Head Office Fax: 310-385-3700 Toll Free Number: 888-969-2429 |
| Acquiror Company: | Hutchison Whampoa Limited, Singapore Technologies |
| Principal Activities: | Hutchison Whampoa has extensive interests in ports and shipping, food processing and distribution, retailing, manufacturing, and real estate (it is a major landholder and hotel operator in Hong Kong). The company's telecommunications holdings include fixed-line, mobile phone, and paging services. Hutchison Whampoa holds majority interests in shipping businesses such as container and other terminal facilities in Hong Kong, China, the UK, and other regions. The company, which also has energy and financial services holdings, is 49.9%-owned by Cheung Kong (Holdings) Limited, founded by Li Ka-shing, one of the world's wealthiest men. The Singapore Technologies (ST) Group is a leading technology-based multinational conglomerate headquartered in Singapore. The Group provides a full array of multi-disciplinary capabilities, spanning research and development, design and engineering, and precision high value-added manufacturing in the following core business groups. |
| Address: | Hutchison House, 22nd Floor, 10 Harcourt Road Hong Kong Singapore Technologies 51 Cuppage Rd. #09-01 Starhub Ctr Singapore 229649 |
| Website: | http://www.hutchison-whampoa.com http://www.st.com.sg/ |
| Contact Persons: | Hutchison:
Li Ka-shing - Chairman Canning K. N. Fok - Group Managing Director Frank J. Sixt - Group Finance Director |
| Contact Numbers: | Hutchison Head Office
Tel: 852 2128 1188
Hutchison Head Office Fax: 852 2128 1705 Singapore Technologies Phone: (65)67221688 Singapore Technologies Fax: (65)6720 2288 |
| Remarks: | Asia Global Crossing Chairman Jack Scanlon said the company is in discussions with bondholders to retire US$408 million worth of debt to make the company more attractive to potential buyers.
Asia Global Crossing has already suspended interest payments on its US$408 million bonds and is now discussing the possibility of bondholders accepting a reduced return on their investment in exchange for immediate retirement of the debt. Scanlon said nine parties were conducting due diligence on the company, and an extension of a bank deadline for due diligence to be completed by April 30 has been requested. The company has not received any offers at this point, but Scanlon does not expect bidders to table offers until closer to the deadline early next month. |
| US$585 Million: Repsol YPF S.A (Indonesia) | top |
| Deal Size: | US$585 Million |
| Type of Deal: | Acquisition of subsidiaries |
| Country: | Indonesia |
| Specific asset under consideration: | Acquisition of 9 Indonesian subsidiaries |
| Deal Status: | CNOOC Limited completed its agreement to acquire nine Repsol YPF S.A. subsidiaries owning working interests in five oil and gas properties in Indonesia. |
| Target/Acquired Company: | Repsol YPF S.A. |
| Principal Activities: | A fully integrated oil and gas company, it has proved reserves of 4.8 billion barrels of oil equivalent, mostly in Latin America, the Middle East, and North Africa. The company owns 99% of YPF, Argentina's #1 integrated oil company, and has operations in 30 countries. Repsol YPF has five refineries in Spain (as well as stakes in five Latin American refineries) and produces chemicals, plastics, and polymers. It sells gas under the brands Campsa, Petronor, and Repsol at more than 3,700 service stations in Spain and has 3,500 stations in Argentina and elsewhere. It is Spain's #1 seller of liquefied petroleum gas. Spanish bank La Caixa owns 12.5% of the company. |
| Address: | Paseo de la Castellana, 278 28046 Madrid, Spain |
| Website: | http://www.repsol-ypf.com |
| Contact Persons: | Alfonso Cortina de Alcocer
- Chairman and CEO, Repsol YPF and YPF
Carmelo de las Morenas López – CFO |
| Contact Numbers: | Head Office Tel: 34-91-348-81-00
Head Office Fax: 34-91-348-28-21 |
| Acquiror Company: | CNOOC Limited |
| Principal Activities: | CNOOC Ltd. is in charge of China's offshore oil and gas exploration and production activities, which it conducts in partnership with international oil and gas firms. CNOOC Ltd. has amassed more than 1.8 billion barrels of oil and natural gas equivalent in proven reserves, primarily in the South China Sea. The company is also engaged in oil refining, natural gas processing, and refined and processed products marketing. China National Offshore Oil Corp. (CNOOC), China's third-largest oil producer (after PetroChina and Sinopec), owns 70.6% of CNOOC Ltd. |
| Address: | 65th Fl., Bank of China Tower, 1 Garden Rd., Central Hong Kong |
| Website: | http://www.cnoocltd.com |
| Contact Persons: | Wei Liucheng -
Chairman and CEO; President, China National Offshore Oil Corporation
Fu Chengyu - President, COO, and Director; VP, China National Offshore Oil Corporation Mark Qiu - SVP and CFO |
| Contact Numbers: | Head Office
Tel: 852-10-8452-1056
Head Office Fax: 852-10-8452-1044 |
| Remarks: | The acquired assets include various interests in oil and gas producing properties offshore Indonesia, which held more than 360 million barrels of petroleum reserves. The Company is expected to pay US$585 million plus a US$6.86 million final oil price adjustment payment.
CNOOC Limited also has a presence in Indonesia through a 39.51% participating interest in the Malacca Strait PSC. |
| US$520 Million: PT Semen Gresik (Indonesia) | top |
| Deal Size: | US$520 Million |
| Type of Deal: | Sale of stake |
| Country: | Indonesia |
| Specific asset under consideration: | Sale of 51% stake in cement maker |
| Deal Status: | Cemex has been trying to acquire a majority in Gresik from the government, but strong opposition from Gresik's local units has forced Jakarta to put off the plan. |
| Target/Acquired Company: | PT Semen Gresik |
| Principal Activities: | Manufactures and distributes cement and packaging materials. Other activites include operation of an industrial estate, mining of limestone and clay and investment holdings. |
| Address: | Jalan Veteran Gresik Jawa Timur 61122 Indonesia |
| Website: | http://www.sggrp.com/ |
| Contact Persons: | Setiadi Dirgo - President Commissioner
Jose Luis Saenz De Miera - VP Commissioner Urip Timuryono - President |
| Contact Numbers: | Office
Tel: +62 31 398 1731 2/1745
Office Fax: +62 31 398 3209/3972 2264 |
| Acquiror Company: | Cemex SA |
| Principal Activities: | Cemex is one of the world's three largest cement makers, along with Switzerland's Holderbank and France's Lafarge. But it also makes ready-mix concrete, aggregates and clinker - an intermediate product used to make Portland cement. |
| Address: | Avenida Constitucion, 444 Poniente 64000 Monterrey, Nuevo Leon, Mexico |
| Website: | http://www.cemex.com |
| Contact Persons: | Lorenzo H Zambrano
- Chairman and CEO
Rodrigo Treviño - CFO |
| Contact Numbers: | Head Office
Tel: 52 8 328 300
Head Office Fax: 52 8328 3188 |
| Remarks: | In a bid to improve its debt structure, Indonesia's largest cement maker PT Semen Gresik, which is 25% owned by Mexican cement giant Cemex, plans to buy back some of its IDR600 billion (US$63.46 million) in bonds issued last July.
Financial analysts said Gresik's debt-to-equity ratio would be reduced significantly following the MTN payments and the planned buyback, from around 0.72 times as at the end of last September. Earlier in January, state-run Gresik made a payment of $162 million as part of the MTN, which was issued in 1996. Gresik issued the IDR600 billion in five-year bonds and secured IDR700 billion in loans from state-owned PT Bank Mandiri last year to refinance its dollar debts. |
| US$378.03 Million: Asahi Bank (Japan) | top |
| Deal Size: | US$378.03 Million |
| Type of Deal: | Share swap |
| Country: | Japan |
| Specific asset under consideration: | Share-swap deal to form Japan's fifth-largest banking group with JPY50.4 trillion yen in combined assets. |
| Deal Status: | Asahi Bank and Daiwa Bank, which formed a new banking group under Daiwa Bank Holdings Inc in March, are in the final stage of negotiations to merge by the autumn of 2003.
The banks had initially aimed to merge by April 2003, but after seeing the system malfunctions experienced by the Mizuho Financial Group, they are now targeting a date around autumn of 2003 in order to carry out careful preparations. The banks are also weighing plans to reorganize operations in Osaka Prefecture and its surrounding prefectures. |
| Target/Acquired Company: | Asahi Bank Ltd |
| Principal Activities: | The Asahi Bank is a retail bank with nearly 350 branches, sub-branches, and agencies in Japan. The bank's services included small and medium-size business loans, mortgages, and individual savings accounts. In order to focus on the domestic market, Asahi Bank closed many of its overseas offices and transferred their business to Mitsubishi Tokyo Financial Group. Asahi Bank also owned subsidiaries active in software engineering, real estate, trust banking, office leasing, and building management. |
| Address: | 1-2, Otemachi 1-chome, Chiyoda-ku Tokyo 100-8016, Japan |
| Website: | http://www.asahibank.co.jp/ENGLISH |
| Contact Persons: | Yukio Yanase - President |
| Contact Numbers: | Office
Tel: +81-3-3287-2111
Office Fax: +81-3-3212-3484 |
| Acquiror Company: | Daiwa Bank Holdings |
| Principal Activities: | Daiwa Bank Holdings (formerly Daiwa Bank) is the holding company for Daiwa Bank, and the much smaller regional players Kinki Osaka Bank and Nara Bank. Daiwa Bank Holding's 2002 absorption of the larger Asahi Bank elevated its status to that of Japanese megabank. Daiwa has been closing its foreign branches, restructuring its business with plans to concentrate on the retail market, especially in the Kansai region, where Daiwa Bank already services about 15% of Osaka's banking needs. Daiwa's other lines of business include trusts and pensions for large companies, securities trading, and private banking. The bank holding company is cutting more staff and closing branches. |
| Address: | 2-1, Bingomachi 2-chome, Chuo-ku Osaka 540-8610, Japan |
| Website: | http://www.daiwabank.co.jp |
| Contact Persons: | Takashi Kaiho - Chairman
Yasuhisa Katsuta - President |
| Contact Numbers: | Office
Tel: +81-6-6271-1221
Office Fax: +81-6-6268-1337 |
| Remarks: | Daiwa Bank and Asahi Bank have already presented proposals for the merger and regional reorganization to the Financial Services Agency.
The banking group will likely rename itself Risona, a term derived from a Japanese word meaning "ideal." |
| US$345 Million: James Hardie Industries N.V. (Australia) | top |
| Deal Size: | US$345 Million |
| Type of Deal: | Sale of gypsum operations |
| Country: | Australia |
| Specific asset under consideration: | Sale of James Hardie Gypsum to BPB PLC for US$345M. |
| Deal Status: | James Hardie Industries N.V. announced that it had closed on its previously announced agreement to sell James Hardie Gypsum to BPB PLC for US$345M.
The transaction cleared the necessary conditions and approvals and was closed at 2 pm Pacific time, 25 April in California. |
| Target/Acquired Company: | James Hardie Industries N.V. |
| Principal Activities: | James Hardie Industries takes the rap for wrapping homes in fiber cement. The company makes fiber cement products (60% of sales) under the Hardie brand, primarily in Australia, New Zealand, the US, and the Philippines. A pioneer in the use of cellulose-reinforced fiber cement, James Hardie uses the material to create such products as siding, external cladding, walls, and roofing. The company also makes gypsum wallboard and fiber cement-reinforced pipes. The company has shed its poorly performing window manufacturing business and has expanded its US operations (such as its acquisition of Cemplank's fiber-cement operations). |
| Address: | Level 7, 65 York St. Sydney 2000, Australia |
| Website: | http://www.jameshardie.com |
| Contact Persons: | Alan G. McGregor
- Chairman
Peter D. Macdonald - Managing Director, CEO, and Board Member Phillip Morley - CFO |
| Contact Numbers: | Head Office Tel: 61-2-9638-9200
Head Office Fax: 61-2-9638-0833 |
| Acquiror Company: | BPB Plc |
| Principal Activities: | Europe's top maker of plasterboard (or drywall), the company also makes paperboard products (used in plasterboard and packaging), internal linings, and materials for flooring and decorative use. More than 45% of BPB's sales come from plasterboard. The company has more than 80 plants in 45 countries; Europe accounts for most of its sales. BPB has restructured its paperboard business to cut costs, selling or closing some operations. The company is using acquisitions to expand operations beyond its European base; it's in the process of acquiring the US gypsum business of James Hardie. |
| Address: | Park House, 15 Bath Rd. Slough, Berkshire SL1 3UF, United Kingdom |
| Website: | http://www.bpb.com |
| Contact Persons: | Allan Gormly
- Chairman
Richard Cousins - Group Chief Executive Mark Higson - Group Operations Director Peter E. Sydney-Smith - Finance Director |
| Contact Numbers: | Head Office Tel: 44-1753-898-800
Head Office Fax: 44-1753-898-888 |
| Remarks: | The sale of its gypsum operations will enable James Hardie to concentrate solely on the development of high growth, fiber cement businesses in the world's major building and construction markets. |
| US$300 Million: TPI Polene (Thailand) | top |
| Deal Size: | US$300 Million |
| Type of Deal: | Takeover Bid |
| Country: | Thailand |
| Specific asset under consideration: | Acquisition of 50% shareholding |
| Deal Status: | Creditors of TPI Polene will again enter into an investment deal in the company with Cemex, as the latter's revised offer presented to TPI Polene's creditors is no longer effective as it did not receive any satisfactory answer from the steering committee. |
| Target/Acquired Company: | TPI Polene Plc |
| Principal Activities: | Cement business of Thai Petrochemical Industries Plc, a Thai conglomerate, is one of Thailand's leading cement producers. |
| Address: | 26/56 Chan Tat Mai Rd. Tungmahamek Sathorn Bangkok 10120, Thailand |
| Website: | http://www.tpigroup.co.th |
| Contact Persons: | Sunthorn Hongladarom - Chairman |
| Contact Numbers: | Office
Tel: 66 2 285 5090
Office Fax: 66 2 213 1035 |
| Acquiror Company: | Cemex SA |
| Principal Activities: | Cemex is one of the world's three largest cement makers, along with Switzerland's Holderbank and France's Lafarge. But it also makes ready-mix concrete, aggregates and clinker - an intermediate product used to make Portland cement. |
| Address: | Avenida Constitucion, 444 Poniente 64000 Monterrey, Nuevo Leon, Mexico |
| Website: | http://www.cemex.com |
| Contact Persons: | Lorenzo H Zambrano
- Chairman and CEO
Rodrigo Treviño - CFO |
| Contact Numbers: | Office
Tel: 52 8 328 300
Office Fax: 52 8328 3188 |
| Remarks: | TPI Polene, a subsidiary of Thai Petrochemical Industry Group, is under rehabilitation, with Effective Planners as company administrator.
A plan by Siam City Cement Plc (SCCC) to take a 77% stake in Bangkok's TPI Polene appears likely to collapse. A creditor source said SCCC, a member of the Holcim group of Switzerland, wanted to take over only the cement operations of TPI Polene. The source said Holcim did not want the petrochemical operation, as it was not a core business of Siam City Cement. It proposed to sell the operation to Mr Prachai because he had expertise in the field and helped establish the country's petrochemical industry. Bangkok Bank, a leading creditor of the ailing petrochemical firm, is opposed to the sale of TPI Polene's petrochemical units to founder and CEO Prachai Leophairatana. |
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