Skip to content
Subscriber Only

HeidelbergCement Plans to Buy Italcementi for $4.1 Billio

Updated on

Germany’s HeidelbergCement AG plans to buy rival Italcementi SpA for 3.7 billion euros ($4.1 billion) as the world’s second-biggest cement maker puts its repaired balance sheet to work to follow industry leader LafargeHolcim Ltd. down the path of consolidation.

HeidelbergCement will initially buy Italmobiliare SpA’s 45 percent stake, paying 10.6 euros for each share, or 1.67 billion euros total in stock and cash, and then offer the same for each share held by outstanding investors once the first transaction is approved, it said in a statement Tuesday.