Vicat to clarify Heidelberg stake sale on May 30
Vicat said on Wednesday it will on May 30 announce the terms under which Germany’s largest cement maker HeidelbergCement plans to sell its 35 per cent stake in its smaller French rival.
HeidelbergCement announced plans to sell its stake in Vicat in March and at the time Vicat said it and the family holding companies intended to acquire 12 per cent at most of Vicat’s share capital.
HeidelbergCement in the meantime sealed an agreed UK£8bn takeover bid on on Britain’s Hanson.
BNP Paribas and Calyon will act as joint bookrunners of and joint lead managers of the planned HeidelbergCement offering, due to be completed this quarter of 2007.
The sale would be made via a private placement to institutional investors inside and outside France, as well as a public offering in France.
Vicat shares closed little changed at 104.21 euros on Wednesday. Published under Cement News
