Cementir Holding has announced that the hearing with creditors for Sacci’s composition, which includes the offer to purchase its business divisions submitted by Cementir Holding’s subsidiary Cementir Italia Spa, was held on 14 March 2016 before the Court of Rome. The offer was formally accepted by the Board of Directors of Sacci Spa during its meeting on 10 March 2016.
Sacci’s creditors will be able to express their vote within 20 days of the heating, in accordance with Article 178, paragraph 4 of the Bankruptcy Law. The outcome of the vote will be made public as soon as it becomes available.
It is noted that should the vote by Sacci’s creditors be favourable to the composition, then it will still b subject to endorsement by the Court of Rome.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/europe-cis/15032016/cementir-holding-furthers-offer-to-purchase-from-sacci-692/