10 June 2009
HeidelbergCement progressing successfully with deleveraging
Progressing further with its disposal programme, HeidelbergCement has sold 520.5 million shares representing 14.1% of the 65.1% stake which it holds in the Indonesian cement producer PT Indocement Tunggal Prakarsa. The EUR 220 million private placement to international institutional investors enables HeidelbergCement to pay down existing debt.
Indocement, one of Indonesia’s leading cement manufacturers with a production capacity of 17.1 million tonnes, is a cornerstone of HeidelbergCement’s Asia strategy. “At 51%, we will retain our controlling stake in Indocement, while being able to further deleverage the parent company,” said Dr Bernd Scheifele, Chairman of HeidelbergCement’s Managing Board.
HeidelbergCement is working on a comprehensive refinancing of its existing liabilities accompanied by a disposal programme of selected non-strategic business interests over the next two years. HeidelbergCement will also continue with its consistent cost management and focus further primarily on generating the highest possible cash flows.
This material appears as a matter of announcement only. It is not an offer for sale of any securities in the United States or elsewhere. Any securities offered in connection with the transactions described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. This press release shall also not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of such securities in any country or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such country or jurisdiction.