Italcementi wins 98.5% acceptances in ASEC Cement bid

Italcementi wins 98.5% acceptances in ASEC Cement bid
Published: 19 August 2005

Italcementi SpA’s takeover offer for ASEC Cement has won acceptances totaling 98.5% of the Egyptian company’s capital, a financial source said.  The figures are preliminary, the source said, adding that final and official data are due next week. The bid, which closed yesterday, was carried out by Suez Cement Company, a 57%-owned unit of Italcementi’s overseas asset holding Ciments Francais SA.