Italian cement maker Italcementi SpA said Wednesday its board has agreed to sell to its controlling company – Italmobiliare SpA – a 1.4% stake in Mediobanca SpA and a 2.3% holding in RCS MediaGroup SpA.

In a filing to the Italian stock exchange, the company said it is selling those stakes to focus on its core business and strengthen its financial structure.

The company added the sales will generate capital gains of EUR17.1m.
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