HeidelbergCement to buy rival Italcementi
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...