Italcementi says French unit merger long-term plan
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.
Published under Cement News
