Merckle raises HeidelbergCement stake to 76%

The takeover vehicle of German billionaire Adolf Merckle, Spohn Cement, and its affiliates now control 76 per cent of HeidelbergCement after buying more of the cement maker’s shares from the market. 

Spohn said in a statement on Thursday it had bought 13.2 million shares at between EUR59.7 and 59.73 a share on August 17 on the stock market. Spohn and its affiliates already owned more than 71 per cent of HeidelbergCement shares following the conclusion of its 60-euro a share offer on August 12.