Buzzi Unicem will not acquire Sacci SpA
Published by Katherine Guenioui,
Editor
World Cement,
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/
You might also like
The World Cement Podcast - CCS in the UK
Dr Diana Casey, Executive Director of the Mineral Products Association joins the World Cement Podcast to explore the role of CCS in decarbonising UK cement industry.
Tune in to the World Cement Podcast on your favourite podcast app today.