Schwenk reduces its stake in HeidelbergCement

Schwenk reduces its stake in HeidelbergCement
Published: 22 July 2005

Schwenk has informed in a so-called Directors’ Dealings notification according to section 15a of the German Securities Trading Act that they have sold 15 million HeidelbergCement shares – the equivalent of 13 per cent – within the framework of the current takeover bid by Spohn Cement GmbH and that they will remain shareholder in HeidelbergCement with a stake of 7.5 per cent.

The Schwenk/Schleicher family has been shareholder in HeidelbergCement since 1911 and has been represented in the company’s Supervisory Board since 1965. HeidelbergCement reportedly welcomes the decision of the Schwenk/Schleicher family to continue the longstanding shareholding and to remain involved in HeidelbergCement to a significant degree.