Belgium: CBR and Cimescaut settle dispute

CBR, the Belgian division of Germany's HeidelbergCement, has settled its dispute with the Belgian concrete manufacturer Cimescaut. This saw CBR buy 62.91% of the shares in Cimescaut, raising its stake from 34.2% to 96.93%. The purchased shares represent the entire stake of the Bertrand family. HeidelbergCement said that an offer for buying the 3.07% float will also be made as soon as possible, subject to regulatory approval. CBR said that the entire transaction cost was €47.5 million.
January 22, 2014 Read time: 1 min

CBR, the Belgian division of Germany's 674 HeidelbergCement, has settled its dispute with the Belgian concrete manufacturer 4733 Cimescaut. This saw CBR buy 62.91% of the shares in Cimescaut, raising its stake from 34.2% to 96.93%. The purchased shares represent the entire stake of the Bertrand family.

HeidelbergCement said that an offer for buying the 3.07% float will also be made as soon as possible, subject to regulatory approval. CBR said that the entire transaction cost was €47.5 million.

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HeidelbergCement purchases 62.91% share in Cimescaut of Belgium

German cement manufacturing giant HeidelbergCement has purchased a further 62.91% share in Cimescaut through its subsidiary Cimenteries CBR for €47.9 million. Cimescaut is a Belgian seller and manufacturer of crushed limestone and related products. HeidelbergCement now owns a 96.93% share in Cimescaut following the transaction. HeidelbergCement also plans to make an offer to purchase the remaining 3.07% share in Cimescaut.

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