HeidelbergCement to buy rival Italcementi

By Myles McCormick
Published: Wednesday, 29 July 2015

The merger between two major players in cement comes in the midst of a number of consolidation efforts in the construction industry. The trend is likely to be bad news for raw material producers.

German-listed HeidelbergCement AG – the world’s second largest cement producer – is to take a 45% stake in Italian-listed Italcementi SpA – the world’s fifth largest cement producer – at a cost of €1.7bn ($1.88bn*) – or €10.60/share.

The deal remains subject to approval by various competition authorities, especially those...

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