HeidelbergCement €6.7 billion acquisition of Italcementi

20/10/2016
Public acquisition

€ 6.7 billion

$ 7.164 billion

Completed

20/10/2016


Overview:

  • HeidelbergCement has completed its acquisition of Italcementi acquiring all remaing shares.
  • In July 2015 the company took a 45% stake for €1.67 billion.
  • The latest acquisition saw the company acquire 165.37 million shares for €10.60 each, taking its stake to above 96%.
  • The deal sees Italcementi de-listed from the Borsa Italia.
  • HeidelbergCement is a German building materials producer and employs 63,000 people.
  • The deal was cleared after the company sold $660 million of assets in the US.
  • For the 45% stake acquisition - Deutsche Bank and Morgan Stanley provided the €4.4 billion financing. Italmobiliare was the selling shareholder.
  • The deal has in part come around due to the merger of Holcim and Lafarge with Heidelberg needing to bridge the market share gap.

Sam Duke - Editor

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