HeidelbergCement completes sale of assets in Belgium to Cementir Holding in the context of the Italcementi acquisition

Today, HeidelbergCement has completed the sale of operations in Belgium, primarily consisting of Italcementi’s Belgian subsidiary Compagnie des Ciments Belges S.A. (CCB) to an affiliate of Cementir Holding. Previously, the European Commission had approved the agreement.

“With the disposal of the Belgium assets we fulfill the obligation of the European Commission and improve the net financial position of HeidelbergCement after the acquisition of Italcementi,” said Dr. Bernd Scheifele, CEO of HeidelbergCement.

HeidelbergCement and Cementir Holding announced the sale on July 25, 2016. The transaction has an enterprise value of €312 million on a cash and debt-free basis.

About HeidelbergCement

HeidelbergCement is one of the world’s largest integrated manufacturers of building materials with leading market positions in aggregates, cement, and ready-mixed concrete. Following the acquisition of Italcementi, the company employs some 63,000 people at more than 3,000 locations in around 60 countries.