Following Buzzi Unicem taking its voting stake in Dyckerhoff to 50.07% and thus majority control last month, both Holcim and Schwenk have now exercised their put options and sold their remaining interests in Dyckerhoff to the Italian group.  As a result, Buzzi Unicem now owns 67.01% of the ordinary shares in Dyckerhoff in addition to its stake in the non-voting Dyckerhoff preference capital, giving Buzzi Unicem a 64.61% interest in the Dyckerhoff equity.  The Schwenk family received around €35 per Dyckerhoff share, while Holcim was paid approximately €22.50 per share.  In part this difference may be explained by a number of other transactions concluded between Buzzi Unicem / Dyckerhoff on the one hand and Holcim on the other, notably the Cementos Hispania deal.  By comparison, Buzzi Unicem paid around €25.50 per share for the 0.5% stake acquired last month.  Next January, IMI Investments will be able to sell its 24.19% holding in the Dyckerhoff ordinary capital to Buzzi Unicem, which would then end up with 91.20% of the votes and 76.73% of the total Dyckerhoff equity. Published under Cement News