Italcementi says French unit merger long-term plan

Italcementi says French unit merger long-term plan
Published: 09 November 2011

Italcementi will not pursue a merger with its French unit Ciments Francais in the near-term, but has not abandoned tie-up plans, its managing director Giovanni Ferrario was cited by Reuters as saying.

Italcementi, which has so far built an 83.2% in the French cement company, has to make the valuations before proceeding with a merger, Ferrario said.

In the meantime, it will go on adding to its Ciments Francais stake based on available funds and the unit’s share price on the market, the executive said.