|
contents | business | |||||||||
| HeidelbergCement intends to sell its stake in Vicat HeidelbergCement intends to sell its 35% stake in the French Group Vicat, by way of a public offering in France and a private placement elsewhere. BNP Paribas and Calyon will act as Joint Bookrunners and Joint Lead Managers of the contemplated offering, which is foreseen to be completed within the second quarter of 2007. The family holdings, along with the company, have announced their intention to purchase up to one third of the offered shares. At current stock price, the stake amounts to about EUR 1.4 billion. With the expected proceeds from the offering, the refinancing of the HeidelbergCement Group should be driven forward and investment projects financed. After the acquisition of the first stake in 1968, HeidelbergCement has increased its participation in Vicat in two steps up to 35%. write your comments about the article :: © 2007 Construction News :: home page |