In 1999, HeidelbergCement acquired 30% of the logistics company Kerpen & Kerpen GmbH & Co. KG, entering into a management contract in 2003 that reached the end of its minimum term at the end of last year. Today, HeidelbergCement has increased its share of the company to 100%, paying €23.5 million in the form of 416 477 new shares that were issued as part of a capital increase in return for contributions in kind. Kerpen & Kerpen will be fully integrated into HeidelbergCement's business in Germany, constituting the core of the transport logistics that will be centrally organised in the future.
Kerpen & Kerpen owns and operates a fleet of 100 silo trucks and is active in the trading and transport of cement, flyash, and other powdery goods in Germany, Belgium, Holland, Luxembourg, France, Switzerland, and Austria.
The issuance of 416 477 new shares resulted from the Authorised Capital II subject to the exclusion of the subscription right of shareholders. HeidelbergCement's subscribed share capital thus increased slightly by almost €1.25 million (equivalent to 0.22%) to around €563.75 million. As of 1 January 2014, the new shares shall be entitled to dividends and are to be admitted to trading immediately after the Annual General Meeting on 7 May 2014.
Due to the capital increase, the share of Spohn Beteiligungen GmbH in HeidelbergCement AG decreased slightly from 25.01% to 24.95%. Since the share of Spohn Cement Beteiligungen GmbH and its parent company UBH Holding GmbH fell below the threshold of 25%, they have sent HeidelbergCement voting rights notifications in accordance with §§ 21, 22 of the German Securities Trading Law (Wertpapierhandelsgesetz) that HeidelbergCement released according to legal prescription. Merckle group has stated that no shares of the company were sold and that they remain invariably an anchor shareholder of HeidelbergCement with voting rights of more than 25%.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/17022014/heidelbergcement_acquires_logistics_provider_758/