2 October 2016

HeidelbergCement achieved high acceptance rate in mandatory tender offer to Italcementi shareholders

HeidelbergCement achieved a high acceptance rate in the mandatory tender offer to the remaining shareholders of Italcementi. According to provisional results, 165,371,229 Italcementi shares were tendered at the end of the subscription period, on 30 September 2016. In addition, HeidelbergCement purchased 14,000,000 Italcementi shares outside the offer on the stock exchange. Together with the 45% stake already acquired from Italmobiliare on 1 July 2016, the tendered and acquired shares amount to 336,543,036 shares equal to 96.356% of the share capital and voting rights of Italcementi.

The consideration due to the holders of the ordinary shares of Italcementi tendered in the offer will be paid on October 7. Thereafter, the Italcementi shares will be delisted from the stock exchange.

Since HeidelbergCement has come to hold a stake greater than 95%, it has the right to purchase the remaining 12,727,644 shares not yet tendered in the Offer, at the same consideration offered to shareholders who tendered their shares in the Offer, i.e. EUR 10.60 per share.

“We are very glad that our offer for the outstanding Italcementi shares was successful,” said Dr Bernd Scheifele, Chairman of the Managing Board. “This is a major step forward to the completion of the Italcementi takeover. Next, we’ll make use of our right to acquire the remaining shares of Italcementi. Due to the high acceptance rate, we can quickly go ahead with the integration of Italcementi and realisation of synergies.”

The subscription period started on 29 August and ended on 30 September. The offer price was €10.60 per Italcementi share. This corresponds to a premium of 70.7% compared to the average price of the Italcementi share during the three months prior to the publication of the Italcementi takeover at the end of July 2015. HeidelbergCement expects the entire transaction to be completed in the month of October 2016.

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.

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Andreas Schaller

Group Spokesman, Director Group Communication & Investor Relations
+49 6221 481 13249
+49 6221 481 13217
HeidelbergCement AG
Berliner Straße 6
69120 Heidelberg