Court of Rome declares validity of Buzzi offer for SACCI

Court of Rome declares validity of Buzzi offer for SACCI
02 October 2015

Buzzi Unicem has been informed by SACCI SpA (SACCI) that the Court of Rome has declared the admissibility of the composition plan submitted by SACCI on 21 September 2015.

The composition plan includes the binding offer made by Buzzi Unicem for the acquisition of the cement and ready-mix concrete business unit of SACCI.

The composition plan will be subject to the vote of the creditors in the meeting set by the Court for 18 January 2016. If the vote of the creditors of SACCI is positive, it will be further submitted for approval to the Court of Rome.

The offer will be valid and binding until 31 March 2016 and, if the composition plan is endorsed by the Court, the execution of the contract will be nevertheless subject to the approval by the Italian Antitrust Authority.

The acceptance of Buzzi Unicem offer depends on the outcome of the aforesaid composition plan and on the decisions to be taken by the composition plan bodies whose authoridation is required to allow the acceptance of the offer by SACCI.

Published under Cement News