HeidelbergCement Completes Italcementi Acquisition

HeidelbergCement completed the acquisition of a 45 percent stake in Italcementi S.p.A. from Italmobiliare S.p.A. All conditions for the closing of the transaction have been fulfilled following the approval by the relevant competition authorities.

“Today’s closing is an important milestone in the history of HeidelbergCement,” said Dr. Bernd Scheifele, chairman of the management board. “By adding Italcementi to our Group, we are considerably strengthening our global footprint and innovation capabilities. We see significant potential for value creation with the realization of synergies and by learning from each other’s best practices. From now on, we will focus all our efforts on the integration of Italcementi into our Group.”

The acquisition of the 45 percent stake in Italcementi triggers the obligation to execute a mandatory tender offer to the remaining shareholders of Italcementi. The offering document will be filed with the Italian regulator, CONSOB, and will be published upon completion of CONSOB’s review period. The acceptance period will be agreed with Borsa Italiana. The acceptance period is expected to commence at the end of August. HeidelbergCement expects the entire transaction to be completed in the second half of 2016.

With the acquisition, HeidelbergCement becomes the number-one producer of aggregates, the number two producer of cement, and the number three producer of ready-mixed concrete worldwide. The enlarged Group has facilities in around 60 countries with 63,000 employees working at more than 3,000 production sites. HeidelbergCement operates 156 cement plants with an annual cement capacity of 197 million tons, more than 1,700 ready-mixed concrete production sites and more than 600 aggregates quarries.

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