Vicat, France’s third largest cement maker, is to increase its floating capital from 5.1 to 28.1 per cent (or 30.4 per cent if the greenshoe option is fully exercised). The move follows the decision by German counterpart HeidelbergCement to sell its 35.03 per cent stake in Vicat for around 1.6bn euros. The company itself and the controlling Merceron-Vicat family holdings will buy a maximum of 12 per cent, while the remaining 23.03 per cent will go public.
The definitive sale price will not be set until June 13, but it will not exceed 102.66 euros per share.
