Mediobanca Sells Stake in French Ciments Francais

Mediobanca Sells Stake in French Ciments Francais
Published: 31 October 2005

Italian investment bank Mediobanca SpA has sold it stake in French cement maker Ciments Francais SA, a subsidiary of Italian cement group Italcementi, it was reported on October 28, 2005.  Mediobanca has booked a capital gain of Euro 100m ($121.4m) from the operation, the bank said in a statement. 
 
The bank has sold its stake, as it has registered a Euro 12m ($14.6 mln) loss, Mediobanca co-director general Renato Pagliaro said. Moreover, the shares are not quoted on the stock exchange, Pagliaro added. 
 
Back on August 10, 2005 Mediabank’s stake in French cement maker Ciments Francais SA, a subsidiary of Italian cement group Italcementi, had been reduced to just to 4.98 per cent, Italian news agency ANSA reported on August 18, 2005