Holcim has taken over all shares in its Czech unit Holcim (Cesko) after a squeeze-out, company lawyer Helena Lebedova said. The Swiss major will pay minority shareholders in the cement maker Kc2,328 per each share worth a nominal Kc378.
"It will be easier to manage the company, no general meetings will have to be called," Lebedova said after today’s extraordinary general meeting. Holcim controlled more than 96 per cent of Holcim (Cesko) shares. It could squeeze minority shareholders out owing to an amended commercial code.
Holcim (Cesko) ended 2004 with net profits worth Kc362m on Kc2.11bn in sales. Gross dividend from last year’s profit amounted to Kc275 per share. Holcim (Cesko) had 360 staff at end-2004.