Slip by Buzzi Unicem in Piazza Affari, after Sacci preferred Cementir's offer for Sacci's cement and concrete plants. The stock marks the worst performance of the Ftse Mib with a drop of 3,49% to 16,31 euros in a list down by 0,47% but Cementir also loses ground, down by 0,76% after announcing that it will disburse 125 million euros for the Sacci business unit. Buzzi Unicem, asked by Radiocor about the possibility of a relaunch, said that: "At the moment there is no comment that can be made, it was all very sudden".
Buzzi Unicem's purchase of the Sacci plants now seemed to be a done deal. The Antitrust had given the green light to the operation which would have increased Buzzi's market share in Italy from 17% to 23%. Buzzi had also raised the variable part of the offer, presented last September 14, from 25 to 35 million euros. The fixed price was 74 million euros. The judgments of analysts and brokers on a transaction that now seemed close to closing were positive, the only thing missing was the ok from the creditors given that Sacci is under an arrangement with creditors, the ok expected for January 18th. The twist came with the tripping up of Cementir: the cement multinational chaired by Francesco Caltagirone jr presented a higher offer, worth 125 million euros, which was accepted by Sacci's board of directors. The business branch includes five plants for the production of cement in central and northern Italy, the three terminals of Manfredonia, Ravenna and Vasto, the concrete plants located mainly in central Italy, the transport service and the shares in the companies Energy for Growth and San Paolo consortiums and in the Swiss company Fenicem. The closing of the transaction is assumed for the first half of 2016.
