Big shot of Cementir in Belgium and a sharp rise in the stock on the Stock Exchange (+4,41% to 3,74 euros). Through its 100% subsidiary Aalborg Portland Holding, the group entered into an agreement with Ciments Francais, a company in turn controlled by Italcementi and part of HeidelbergCement, for the acquisition of assets in Belgium, mainly consisting of the Belgian subsidiary of Italcementi 'Compagnie des Ciments Belges' (Ccb).
HeidelbergCement, according to a note, had undertaken to sell the Belgian assets with the European Commission in order to resolve the critical issues on the antitrust front connected with the acquisition of Italcementi. The deal is subject to approval by the European Commission. The value of the transaction is 312 million euros on a cash and debt-free basis.
The closing "is subject to the occurrence of the usual conditions for transactions of this type: it is expected for the second half of 2016".
