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
October 25, 2016 Read time: 1 min

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.

Quarry Products

For more information on companies in this article

Related Content

April 6, 2016

HeidelbergCement unveils integration plan for Italcementi

HeidelbergCement has announced the project to restructure the Italian operations of Italcementi.

This follows Heidelberg Cement’s July 2015 agreement to acquire a 45% stake in the company from Italmobiliare, the holding company of the Pesenti family, which will own a significant stake in the new entity.

The German group says that the reorganisation will impact about 400 of the current 2.500 jobs in Italy until 2020, and there are likely to be redundancies.

Bergamo will remain the headquarters of t

August 18, 2016

HeidelbergCement to sell assets in the U.S. to Cementos Argos for US$660 million

HeidelbergCement, through its subsidiaries Essroc Corp. and Lehigh Hanson, Inc., has entered into a definitive agreement with Argos USA LLC, a subsidiary of Cementos Argos, to sell its Martinsburg, West Virginia cement plant and eight related terminals.

The U.S. disposal was required by Federal Trade Commission (FTC) Decision and Order to address competition concerns arising from the Italcementi acquisition. The agreement is subject to the approval of the FTC and other customary closing conditions. The

boombox1

Highlighted Content

boombox2