Italmobilaire to acqure non-core assets

Italmobilaire to acqure non-core assets
22 June 2016

HeidelbergCement AG and Italcementi SpA have made an amendment to HeidelbergCement's acquisition of the entire participation held by Italmobiliare in Italcementi SpA. The new procedure will allow the parties to proceed with the closing of the transaction on 1 July 2016.

Before the closing date, Italmobiliare will now acquire the “non-core assets” ie those participations currently held by Italcementi in Italgen SpA and BravoSolution SpA, as well as certain real estate assets.

Italmobiliare further announced that it has fixed in 10,500,000 ordinary shares of HeidelbergCement which it is going to subscribe by virtue of a reserved capital increase, representing about 5.3 per cent of HeidelbergCement post increase share capital.

Following the acquisition of such participation, Italmobiliare will become the third shareholder of HiedelbergCement. The value on the new HeidelbergCement shares issued in favour of Italmobiliare will be equal to EUR75.06 per share, being the volume-weighted average market price of HC shares registered in the thirty business days period ending on 17 June 2016.

Published under Cement News