Cementir Holding has announced that the Board of Directors has approved the financing of a total amount of €125 million granted by ICAL 2 SpA. The Company intends to use the financing to fund the acquisition of the business division of Sacci SpA, for which the subsidiary Cementir Italia SpA has made an offer. Financing is therefore expected to be disbursed only after the conditions precedent of the offer have been fulfilled.
Pursuant to Consob Regulation No. 17221 of 12 March 2010, as subsequently amended, the operationis classified as a related-party transaction in view of the control exercised by FGC S.p.A. over CementirHolding and ICAL 2.
Therefore, in compliance with the above-mentioned Regulation, the transaction has been submitted tothe Independent Directors Committee, which has confirmed that the transaction is in the interests ofCementir Holding and that its conditions are convenient and substantively correct.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/europe-cis/13072016/cementir-holding-board-of-directors-approve-financing-514/