Italcementi sells Italgen and BravoSolution to parent

Italcementi sells Italgen and BravoSolution to parent
Published: 21 December 2015


In connection with the agreement between its parent Italmobiliare and HeidelbergCement announced by Italmobiliare on 28 July 2015, the Italcementi Board of Directors today approved the sale to Italmobiliare of a number of non-core assets.These include Italcementi's current equity investments in renewable energy (Italgen) and in e-procurement (BravoSolution), as well as a property located in central Rome. The consideration for the non-core assets has been determined on the basis of an overall asset value of 241 million euro.

The effectiveness of the contracts for the sale of the non-core assets will be subject to the closing of the agreement between Italmobiliare and HeidelbergCement, once the required authorisations have been obtained from the antitrust authorities, and will be finalised at the same time as that agreement.