HeidelbergCement to increase Indo stake

HeidelbergCement to increase Indo stake
Published: 31 May 2005

The Managing Board and the Supervisory Board of HeidelbergCement AG resolved to further increase the stake in the Indonesian cement company Indocement, which has been fully consolidated since 2004. This will be performed by a capital increase against contribution in-kind without subscription rights in the nominal amount of EUR 16,715,148.80, corresponding to 6,529,355 new shares. The contribution in-kind will be rendered by two companies owned by members of the Merckle family. The issuing price of EUR 47.42 is the average of the closing rates of the last 30 stock exchange trading days. Transaction value amounts to EUR 310 million. Following this transaction, the stake of HeidelbergCement in Indocement will increase to 65.1%. The equity ratio of the Group will increase from 39 per cent to 41 per cent.

HeidelbergCement has had a shareholding in Indocement since 2001. Indonesia’s second-largest cement producer operates three cement plants with a total capacity of 16.5Mt and covers around one third of the Indonesian cement demand.