HeidelbergCement has completed the sale of operations in Belgium, primarily consisting of Italcementi’s Belgian subsidiary Compagnie des Ciments Belges SA to an affiliate of Cementir Holding. The European commission had previously approved the agreement.
HeidelbergCement and Cementir Holding announced the sale on 25 July 2016. The transaction has an enterprise value of €312 million on a cash and debt-free basis.
“With the disposal of the Belgium assets we fulfil the obligation of the European Commission and improve the net financial position of HeidelbergCement after the acquisition of Italcementi,” said Dr. Bernd Scheifele, CEO of HeidelbergCement.
Read the article online at: https://www.worldcement.com/europe-cis/26102016/heidelbergcement-sells-operations-in-belgium/