Merckle buys more shares in HeidelbergCement

Merckle buys more shares in HeidelbergCement
Published: 09 October 2008

Majority shareholder of German cement producer HeidelbergCement, Adolf Merckle, bought further 578,395 shares in the group on Monday via his holding firm VEM Vermoegensverwaltung GmbH.

This was the third time he hiked his stake over the last week, HeidelbergCement said today. The group reported the previous two transactions yesterday.

All in all, Merckle has increased his interest in the cement producer by 694,381 shares for a total purchase price of EUR 50.1 m (USD 68.4m) since the beginning of October. According to estimates of news agency Dow Jones, this corresponded to 0.56% of HeidelberCement’s capital stock.

So far Merckle owned some 79% in the group via VEM and Spohn Cement GmbH.