HeidelbergCement completes sale of Belgian assets to Cementir Holding

HeidelbergCement has completed the sale of operations in Belgium, primarily consisting of Italcementi’s Belgian subsidiary Compagnie des Ciments Belges, to an affiliate of Cementir Holding. Previously, the European Commission had approved the agreement. The transaction has an enterprise value of €312 million on a cash and debt-free basis. “With the disposal of the Belgium assets we fulfill the obligation of the European Commission and improve the net financial position of HeidelbergCement after th

Quarry Products / October 25, 2016

674 HeidelbergCement has completed the sale of operations in Belgium, primarily consisting of 726 Italcementi’s Belgian subsidiary Compagnie des Ciments Belges, to an affiliate of 1909 Cementir Holding.

Previously, the European Commission had approved the agreement.

The transaction has an enterprise value of €312 million on a cash and debt-free basis.

“With the disposal of the Belgium assets we fulfill the obligation of the European Commission and improve the net financial position of HeidelbergCement after the acquisition of Italcementi,” says Dr Bernd Scheifele, CEO of HeidelbergCement.

HeidelbergCement and Cementir Holding announced the sale on 25 July, 2016.

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