It is reported that Italian cement manufacturer Italcementi may be working on a plan to merge with French peer Ciments Francais. Italcementi currently holds an 83.1% stake in Ciments Francais, and its parent company holds a 2.7% stake, while a 13% stake of Ciments Francais capital is listed on Paris stock exchange. According to financial analysts, the operation may save up to €200 million of costs.
Italcementi has also been put under observation by Moody's for a possible rating upgrade. Currently, the firm
March 18, 2014
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It is reported that Italian cement manufacturer 726 Italcementi may be working on a plan to merge with French peer 1508 Ciments Francais. Italcementi currently holds an 83.1% stake in Ciments Francais, and its parent company holds a 2.7% stake, while a 13% stake of Ciments Francais capital is listed on Paris stock exchange. According to financial analysts, the operation may save up to €200 million of costs.
Italcementi has also been put under observation by 4446 Moody's for a possible rating upgrade. Currently, the firm holds a 'Ba3' rating with stable outlook. Moody's move is based on Italcementi's announcement of a plan to strengthen its capital standing and to simplify the company structure.
