HeidelbergCement has sold around 0.5 million shares representing 3.6% of Ciments du Maroc’s share capital for an aggregate amount of approximately €73 million.
Dr. Bernd Scheifele, chairman of the managing board of HeidelbergCement, says: “The further reduction in shareholding is part of our action plan to optimise our portfolio and generate cash in order to speed up deleveraging. We continue to be well on track to reach our target of €1.5 billion of disposal proceeds by the end of 2020.”
HeidelbergCement says it will retain a controlling stake of 51.0% in Ciments du Maroc and continue to fully consolidate the company.
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