In March, Buzzi Unicem SpA announced that it had submitted an offer to acquire a 99.5% interest in the share capital of Sacci SpA, an Italian cement producer operating the in the central and northern parts of Italy. On 30 April, Buzzi informed that the population of the banks and creditors that take part in the debt restructuring agreement pursuant to article 182-bis of the Bankruptcy Law have not endorsed to proposal. The offer expired on 30 April and as such Buzzi Unicem is released from any subsequent commitment.
Sacci is currently involved in a debt-restructuring agreement. The company has a market share of approximately 6% and is vertically integrated. It holds minority active investments in Cementerie Aldo Barbetti SpA and Cementeria Constantinopoli Srl.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/05052015/buzzi-unicem-will-not-acquire-sacci-spa-785/