Italy Cementir authorised to buy 4K-Beton

Italy Cementir authorised to buy 4K-Beton
Published: 03 March 2006

Italian cement group Cementir, a unit of local construction company Caltagirone, received authorisation to acquire Denmark’s second largest concrete producer, 4K-Beton, a subsidiary of Cemex, the group said in a statement on March 2, 2006.  The acquisition will be performed through Cementir’s Danish concrete making subsidiary Unicon A/S.  In exchange for 4K-Beton, Cemex will receive two subsidiaries based in Poland plus an extra payment of around Euro 9.5m. The acquisition of 4K-Beton will allow Cementir to strengthen its positions in the Scandinavian countries through synergies with local operators, the group said.