Italcementi becomes German and will form with Heidelberg, which bought it, the world's leading cement-concrete group. The Pesenti family has decided to sell its controlling stake, equal to 45% of Italcementi, to the Germans of Heidelberg at a price that has impressed the Stock Exchange, namely 10,60 euros per share "which corresponds to a premium of 70,6, 1.66% compared to the market price of the last three months for a total value of 46,97 million". The stock soars on the Stock Exchange and scores +10.12% at 9,68, with a value of XNUMX euros which is close to the price threshold envisaged for the takeover bid which will be launched later on the rest of the capital.
The Italcementi operation is fueling purchases across the sector. Among higher capitalization stocks Buzzi Unicem has an increase of 6,24% to 15,49 euro, with Savings gaining 8,60% to 9,66 euro, Cementir Holding was stopped in volatility with an increase of 11,41 .6,69% at 7,20 euros, with other stocks in the Caltagirone galaxy still in the spotlight: Vianini Lavori (+7,44% at 3,45 euros), Caltagirone (+2,462% at XNUMX euros).
If this was the stock market's reaction, the usual question is clear: is another piece of Italy leaving? In some ways it is so, but the flags come after the development of the company and an all-Italian Italcementi could never have become the first group in the world and in fact the president Giampiero Pesenti commented on the operation as follows: "An entrepreneur knows that the 'important is to ensure the future development of the business rather than take up the continuity of control of the company'.
The agreement provides that the Pesentis, through Italmobiliare, will remain in the company's capital and will have a stake between 4 and 5,3%, for a value between 560 and 760 million euros, of HeidelbergCement, becoming the second largest shareholder.
After the transaction, the Germans will be required to launch the cash takeover bid on the rest of Italcementi's capital at the same price paid to Italmobiliare dei Pesenti who will repurchase the renewable energy (Italgen) and eprocurement (BravoSolution) assets from Italcementi.
The Stock Exchange is obviously celebrating and the Italian industry will have one less flag on Italcementi's flagpole but will enter a prominent position in the world's leading cement-concrete group, second in cement alone and third in concrete alone.
