24 December 2014
Ad hoc: HeidelbergCement to sell its North American and UK Building Products Business
HeidelbergCement announces that it has entered into a definitive agreement with an American affiliate of Lone Star Funds to sell its North American (excluding Western Canada) and United Kingdom building products business (collectively, “Hanson Building Products”), for an aggregate purchase price of US$ 1.4 billion, of which up to $100 million will be payable in 2016, depending on the performance of the business in 2015. The closing is subject to the satisfaction of customary closing conditions. HeidelbergCement expects the transaction to close in the first quarter of 2015.
The sale of Hanson Building Products is consistent with HeidelbergCement’s strategy of focusing on processing and refining raw materials for its core products of cement and aggregates and further downstream activities.
HeidelbergCement will use the transaction proceeds to reduce its financial debts.
Heidelberg, 24 December 2014
The Managing Board
Ad hoc announcement pursuant to § 15 German Securities Trading Act (WpHG)