HeidelbergCement to acquire Italcementi

HeidelbergCement to acquire Italcementi

Germany´s HeidelbergCement plans to buy Italcementi for -C3.7 billion, according to reports. HeidelbergCement has initially bought Italmobiliare SpA´s 45 per cent stake. This transaction was initiated on July28, 2015 and is subject to approval by competition authorities.

The deal represents HeidelbergCement´s biggest since the -C11.2 billion acquisition of Hanson in 2009. The acquisition of Italcementi will expand HeidelbergCement´s operations in Mediterranean countries such as Italy and Egypt as well as in France and Belgium, which combined represent the Bergamo, Italy-based company´s biggest market. The deal gives HeidelbergCement the greatest boost in the Middle East and Africa.

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