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Heidelbergcement acquires 96 percent of Italcementi, will buy rest
October 2, 2016 / 5:51 PM / a year ago

Heidelbergcement acquires 96 percent of Italcementi, will buy rest

A logo of HeidelbergCement is pictured at their headquarters in Heidelberg, Germany, June 21, 2016. Picture taken June 21, 2016. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - Germany’s HeidelbergCement (HEIG.DE) owns 96.4 percent of Italcementi ITAI.MI following a public tender offer and will exercise its right to buy the rest at the same price of 10.60 euros per share, it said on Sunday.

HeidelbergCement said it expected to complete the acquisition, the biggest in its history at 6.7 billion euros ($7.5 billion), by the end of this month.

Reporting by Georgina Prodhan; Editing by Ruth Pitchford

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