Buzzi offer to purchase SACCI SpA accepted

Buzzi Unicem announced today that further to its proposed purchase of a 99.5 per cent interest in the share capital of SACCI SpA, controlling shareholders have accepted the binding offer.

Last week Buzzi announced that it had Buzzi Unicem is offering €120m for the stake in SACCI and the simultaneous relief of all outstanding liabilities from a previous debt restructuring agreement.

Buzzi highlighted that execution of the contract is still subject to the endorsement of the banks and creditors that take part in the debt restructuring agreement pursuant to article 182-bis of the Bankruptcy Law, in which SACCI is involved. The deal is also subject to the approval of the Italian Antitrust Authority.