Although Buzzi Unicem already has one of the strongest balance sheets among the international cement groups, it is planning to raise some €205m through a two-for-fifteen rights issue.  The proceeds of the issue will be used to finance part of the acquisition of Banca IMI’s 24.19% stake in Dyckerhoff.  Buzzi Unicem already owns 67.01% of the ordinary shares in Dyckerhoff and adding the shares parked with IMI Investments will take the holding in the Dyckerhoff ordinary capital to 91.20% of the votes and to 76.73% of the total Dyckerhoff equity, when including the non-voting preference shares.
Published under Cement News