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HeidelbergCement acquires 45 from din Italcementi with 1,67 mld. euro

HeidelbergCement AG announces the acquisition of a 45 per cent stake in Italcementi, becoming the largest player in the world market and second aggregates cement producer worldwide

2015-07-30 18:20:32

HeidelbergCement AG and Italmobiliare S.p.A. announced an agreement for the acquisition by the German group for a stake of 45 per cent in Italcementi SpA, as the prospect of a mandatory public takeover offers to be subsequently undertaken with the approval of the transaction by regulatory authorities. The group HeidelbergCement will become the largest market player in the world′s and the second largest producer of aggregates and cement worldwide following this transaction.

Completion of the transaction is planned for 2016, after receiving all approvals from regulatory authorities; Subsequently, HeidelbergCement will initiate a public takeover offer to the other shareholders of Italcementi holdings, as required by the Italian law. The acquisition marks a significant expansion and diversification of the presence of HeidelbergCement, both in traditional markets such as France, Italy, USA and Canada, where the group will consolidate its strong market position, but also in emerging markets with high growth potential as India Egypt, Morocco and Thailand, a press release reads.

In 2014, Italcementi posted revenues of 4.1 billion Euro and EBITDA of 649 million Euro. Following the transaction, HeidelbergCement has revised its medium-term financial targets, increasing revenue objective for 2019 from 17 billion Euro to 20 billion Euro and operational EBITDA from 4 billion Euro to 5 billion Euro for the same interval.



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