Heidelberg acquires Suez Cement Group

Byszheng

Updated Tue, 05 Jul 2016 09:30:01 GMT

On Friday, Heidelberg bought 157.17m ordinary shares, which included Suez Cement Group shares that were formerly owned by Italcementi.

Heidelberg Concrete completed the acquisition of 45% of the shares of Italcementi from Italmobiliare after an agreement was signed on 28 July 2015.

Dr. Bernd Scheifele, chairperson of the management board commented: “Finalising the deal today will be an important milestone in Heidelberg’s history, and by adding Italcementi to our group, we will now strengthen our position in the market and our ability to expand in the world.”

Italmobiliare is now the largest shareholder of HeidelbergConcrete with 5.3% of the shares. The deal that was finalised a few days ago included an article that said that there shall be a mandatory tender offered to the remaining shareholders of Italcementi.

Heidelberg is one of the world’s largest manufacturers for building material and ranks within the aggregates, cement, and ready-mixed concretes markets.