Buzzi Unicem announces the purchase of 5,000,000 Dyckerhoff’s ordinary shares, equal to 24.19 per cent of the voting capital. The shares relate to the put option exercised on December 28, 2004 by IMI Finance Luxembourg S.A., a fully owned subsidiary of Banca IMI. The put option was originally granted by Buzzi Unicem to Banca IMI by virtue of the agreements signed in November 2002.The shares were transferred to the German company Buzzi Unicem Deutschland GmbH, a 100 per cent subsidiary of Buzzi Unicem Investimenti which, in turn, is a 100 per cent subsidiary of Buzzi Unicem S.p.A.
The payment of the total price of €418.5m was effected by Buzzi Unicem Deutschland GmbH today, at the same time as the share transfer. The funds for the payment were provided by Buzzi Unicem through increase of the share capital of both Buzzi Unicem Investimenti and Buzzi Unicem Deutschland GmbH, out of the proceeds deriving from Buzzi Unicem’s rights issue completed in August 2004 and from the issue of Senior Unsecured Notes placed on the US market through the 100 per cent subsidiary Alamo Cement Company in October 2004.
As a result of this shares transfer, Buzzi Unicem now directly or indirectly holds 91.20 per cent of Dyckerhoff AG’s ordinary stock and 76.73 per cent of the total share capital inclusive of preferred shares. Following the above purchase, Buzzi Unicem’s consolidated net debt will increase by an amount equal to the total price paid (€418.5m).