On Friday, Heidelberg Cement bought 157.17m ordinary shares, which included Suez Cement Group shares that were formerly owned by Italcementi.
Heidelberg Cement completed the acquisition of 45% of the shares of Italcementi from Italmobiliare after an agreement was signed on 28 July 2015.
Dr. Bernd Scheifele, chairperson of the management board commented: “Finalising the deal today will be an important milestone in Heidelberg Cement’s history, and by adding Italcementi to our group, we will now strengthen our position in the market and our ability to expand in the world.”
Italmobiliare is now the largest shareholder of Heidelberg Cement with 5.3% of the shares. The deal that was finalised a few days ago included an article that said that there shall be a mandatory tender offered to the remaining shareholders of Italcementi.
Heidelberg Cement is one of the world’s largest manufacturers for building material and ranks within the aggregates, cement, and ready-mixed concretes markets.