Heidelberg Cement to become 2nd largest cement company
Germany's biggest cement producer is all set to acquire a 45% share in Italcementi as a first step. On open offer would be made to minority shareholders to acquire the rest later after the initial deal goes through. With this the total combined cement production capacity will be 200 Million tonnes. Heidelberg Cement currently produces around 140 Million tonnes of cement, its smaller rival Italcementi around 60 Million tonnes of cement.
The combined cement company will have operations in over 60 countries worldwide. This deal comes just weeks after the massive Lafarge and Holcim merger. The Pesenti family,one of Italy's biggest and oldest industrial dynasties, agreed to sell their 45-per-cent stake in Italcementi for 10.60 euros per share, in a mega deal worth around 1.66 billion euros, representing a premium of more than 65% over the average market price reflected in the last three months. The Pesenti family will receive approx. 5% shares of the combined group as part of the deal making them the second largest shareholders after Germany’s Merckle family.
You can read more updates in the links below.
Heidelberg Cement To Acquire Italcementi.
Italcementi to be taken over.
Mega Cement Aquisition.
Germany's biggest cement producer is all set to acquire a 45% share in Italcementi as a first step. On open offer would be made to minority shareholders to acquire the rest later after the initial deal goes through. With this the total combined cement production capacity will be 200 Million tonnes. Heidelberg Cement currently produces around 140 Million tonnes of cement, its smaller rival Italcementi around 60 Million tonnes of cement.
The combined cement company will have operations in over 60 countries worldwide. This deal comes just weeks after the massive Lafarge and Holcim merger. The Pesenti family,one of Italy's biggest and oldest industrial dynasties, agreed to sell their 45-per-cent stake in Italcementi for 10.60 euros per share, in a mega deal worth around 1.66 billion euros, representing a premium of more than 65% over the average market price reflected in the last three months. The Pesenti family will receive approx. 5% shares of the combined group as part of the deal making them the second largest shareholders after Germany’s Merckle family.
You can read more updates in the links below.
Heidelberg Cement To Acquire Italcementi.
Italcementi to be taken over.
Mega Cement Aquisition.
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