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HeidelbergCement Explores $1.5 Billion U.S. Asset Sale

  • Largest German cement maker seeks buyer for California assets
  • Company expected to get first-round bids early next year
Updated on

HeidelbergCement AG is exploring the sale of U.S. assets as Chief Executive Officer Dominik von Achten seeks to divest peripheral businesses, according to people familiar with the matter.

Germany’s largest cement maker is working with Morgan Stanley on the sale of the operations in California, the people said, asking not to be identified because discussions are private. The unit could fetch around $1.5 billion, the people said.