Heidelberg Cement signs deal with Istra Cement

Heidelberg Cement Signs Deal w/Istra Cement (Croatia) – Heidelberg Cement AG signed a contract with Mid Europa Partners on the sale of their 92,4% stake in Istra cement, ‘CT’ reports. Ownership stake transfer should be completed by the end June, when Mid Europa Partners should become majority owner of this company. Heidelberg Cement AG decided to sell a part of the group related to production of Calcium-Aluminate Cement, which includes Istra cement, in accordance with Heidelberg Cement strategy which is to focus on production of Portland cement. Mid Europa Partners will maintain the present management of Istra cement, and plans to enforce a new development strategy. Mid Europa Partners is headquartered in London and manages one of the largest funds for investing in central and eastern Europe.

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