Italmobiliare and the German group Heidelberg have reached an agreement for the purchase by the Germans 45% of Italcementi at a price of 10.60 euro per share, representing a premium of 70.6% over the market price of the last three months, for a total of 1,666,000 “.” An entrepreneur knows that the important thing is to ensure the future development of ‘ activities rather than entrench in the continuity of the Company’s control, “said Giampiero Pesenti, Chairman of Italmobiliare.
Italmobiliare confirmed by a note the agreement with HeidelbergCement that “provides for the acquisition of its stake in the share capital of Italcementi at a price of 10.60 euro per share, representing a premium of 70.6% over the market price of the last 3 months, worth Total of 1,666,000 “.
The agreement – which will create the worldwide leader in the aggregates, the second and third in the cement in concrete – provides for the allocation to Italmobiliare as part of the purchase of a share capital of HeidelbergCement, choice of Italmobiliare, of between about 4% and 5.3% – through reserved capital increase – which corresponds to a value of 560 and 760 million . With this shareholding Italmobiliare will become the second largest shareholder of Industrial HeidelbergCement, with a representative within the Supervisory Board. After closing the deal, HeidelbergCement will be required to make an unconditional public offer mandatory cash on the remaining capital of Italcementi at the same price per share paid to Italmobiliare. Italmobiliare, in the same operation, agrees to buy Italcementi activities in the field of renewable energy (Italgen) and nell’eprocurement (BravoSolution). “In addition to maintaining a strong presence in the field of building materials, with the participation in HeidelbergCement, Italmobiliare thereby strengthen its portfolio of industrial investments which are in addition to existing holdings in the food (SirapGema) and other diversified funds “says the note holding which belongs to Pesenti. At closing, Italmobiliare will have approximately from 670 million to 870 million euro in cash, depending on the amount held in HeidelbergCement.
“An entrepreneur knows that the important thing is to ensure the future development of ‘ activities rather than entrench in the continuity of the Company’s control. ” So Giampiero Pesenti, Chairman of Italmobiliare, said in a statement the agreement for the sale of the German HeidelbergCement, Italcementi.
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