Buzzi Unicem S.p.A. plans to buy out the remaining minority shareholdings in Dyckerhoff AG, in which the Italian company holds the majority stake, Buzzi Unicem announced.
The Italian company intends to offer to the minority Dyckerhoff shareholders, that control together 21.4 per cent, 40 euro ($50.88) per ordinary share and 37.5 euro ($47.7) per preference share, which corresponds to a total price of 334m euro ($424.9m).
In case of successful acquisition, the German company will be delisted, according to the report.
A Dyckerhoff spokeswoman confirmed Buzzi Unicem’s plans. The management board of the German company will issue a reasoned statement on the offer upon its receipt, Dyckerhoff said in a statement.