Mar 6 2007
HeidelbergCement intends to sell its 35% stake in the French Group Vicat, by way of a public offering in France and a private placement elsewhere. BNP Paribas and Calyon will act as Joint Bookrunners and Joint Lead Managers of the contemplated offering, which is foreseen to be completed within the second quarter of 2007, subject to market conditions. The family holdings, along with the company, have announced their intention to purchase up to one third of the offered shares. At current stock price, the stake amounts to about EUR 1.4 billion. With the expected proceeds from the offering, the refinancing of the HeidelbergCement Group should be driven forward and investment projects financed.
„We want to use the expected proceeds in a targeted way”, says Dr. Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. According to HeidelbergCement’s strategic reorientation, the company is strengthening its cement positions in growth markets. „In addition, we want to expand consistently the vertical integration in mature markets”, explains Dr. Scheifele.
„For many years, HeidelbergCement has been connected in a good partnership with the Vicat Group whose majority stake is family-owned. After the acquisition of our first stake in 1968, we have increased our participation in Vicat in two steps up to 35%. Because of this good and long cooperation, this decision was not easy for us. We will maintain our friendly relationship with the Vicat Group and especially the Merceron-Vicat family also after the sale of our stake.“