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| HeidelbergCement sells activities in Israel Germany's largest cement maker HeidelbergCement is selling its activities in Israel. The share purchase and sale agreement was signed between HeidelbergCement and Mashav Initiating and Development Ltd, which is a part of CLAL Industries and Investments Ltd, belonging to IDB Group of Israel. IDB Group is one of the biggest public holding companies of Israel. The deal represents an equity value of around EUR 120 million. The exact amount will be calculated on the base of net financial position at the closing date. Since the closing of the deal is subject to the approval of the cartel authority, it is expected to take place before the end of 2009. write your comments about the article :: © 2009 Construction News :: home page |