Heidelberg’s European bet

HeidelbergCement intention to buy Italcementi will consolidate HeidelbergCement’s No2 position in the cement industry and regain its market leadership in the aggregates sector.

HeidelbergCement planned acquisition follows completion of the LafargeHolcim merger in mid-July and is premised on recovery in the Mediterranean.

The two-phase acquisition process will first see HeidelbergCement buy Italmobiliare’s 45% stake in Italcementi with a combination of shares and cash. Following approval by regulatory authorities, all remaining shareholders will receive a mandatory offer of around €10.60/share. This values Italcementi at around €7.8bn.

The purchase will be financed via a €4.4bn bridge loan, part of which would be paid back with the €1bn cash proceeds from non-core and anti-trust related assets. However, the increased indebtness is expected to delay any recent deleveraging by HeidelbergCement.

The transaction is expected to close in the second half of next year subject to antitrust approvals, notably in Europe and the US.

Source

(Visited 97 times, 1 visits today)

Get involved

Register

As a member of this site you will be able to receive aggregates news relating only to those categories that are most relevant to you, submit job listings for FREE, post questions in the Q&A, and more.

Register Now

Feature your company

The Feature Your Company listing is your custom-made (by us) profile page that allows you to add any of the following content: text, videos, links, images. The page will also be listed on the Featured Company landing page. Over 560 unique aggregates users visit the site per day! Complete the enquiry form now to contact us.

Contact us

Jobs

Are you looking for an aggregate related job? Click here to see our jobs listing supplied by industry experts United Employment.

See Jobs

Advertise

Reach thousands of budget holders and decision makers by promoting your company on the longest established aggregate website in the US & Canada. Or advertise in our emails which are sent to opted-in subscribers according to their chosen categories. All advertising will display correctly on tablets and mobiles as this site is responsive.