Creditor’s approve Sacci acquisition

Following the hearing with creditors held on 14 March 2016, Cementir Holding has announced that the final results of the voting process on Sacci Spa’s composition, which includes the offer to purchase its business divisions that was submitted by the subsidiary Cementir Italia Spa, have been officially communicated.

The composition with creditors was approved by the majority of creditors with voting rights. It is further noted that the composition will then be subject to endorsement by the Court of Rome, the date of which has been fixed for 18 May 2016.

The closing of the transaction is expected to take place by the end of July 2016, unless it is extended or delayed.

Adapted from press release by Rebecca Bowden

Read the article online at: https://www.worldcement.com/europe-cis/20042016/creditors-approve-sacci-acquisition-933/