Cementir Holding has announced that it has been notified by its subsidiary Cementir Italia SpA that the transfer of Sacci SpA’s cement and ready-mixed concrete business division has been closed for a total amount of €125 million. The acquisition has been made by CementirSacci, a wholly owned subsidiary of Cementir Italia.
The payment made today was equal to €122.5 million, while the remaining €2.5 million will be paid 24 months from today. A financing contract has been signed with the relevant party ICAL 2 to finance the acquisition.
As a result of this transaction, Cementir Holding group will operate in Italy through two companies: Cementir Italia and CementirSacci, approximately doubling its production capacity, commercial strength and distribution network. The industrial footprint has grown, with the addition of five cement production plants, three distribution terminals and 28 ready-mixed concrete plants. In Italy, total installed capacity will be 6.8 million tpy and the company’s presence will increase from 6 to 11 of the country’s regions.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/europe-cis/01082016/cementir-italia-finalises-acquisition-of-sacci-spa-32/