HEIDELBERGCEMENT/ITALCEMENTI

HeidelbergCement to accelerate growth with the acquisition of Italcementi

On 28.07.2015 HeidelbergCement AG announced that it has entered into a purchase agreement with Italmobiliare S.p.A. for the acquisition of a 45 % share in Italcementi S.p.A. The total purchase price will amount to approximately € 1.67 billion for the 45 % stake, which will be paid in cash and up to 10.5 million HeidelbergCement shares resulting from a capital increase against contribution in kind. The closing of the acquisition is subject to customary conditions including approval by the competition authorities, in particular in Europe and the United States. The closing of the stake purchase is expected in the course of 2016 after obtaining all necessary merger control approvals.

The acquisition of Italcementi provides an opportunity to accelerate the growth of HeidelbergCement. The connection with Italcementi will create the global market leader in aggregates, the second largest producer of cement and the global number three in ready-mix concrete.

Dr. Bernd Scheifele, Chairman of the Management Board, commented: “There is no other major Group in the industry which offers a similar complementary fit to our own operations. With the market recovery gaining traction in Southern Europe and the U.S., it is now the right time for us to accelerate our growth with this transaction.” Dr. Lorenz Näger, Chief Financial Officer, added: “Following closing of the transaction, our goal is to deliver annual run-rate synergies of € 175 million by 2018. Italcementi is expected to significantly add to our free cash flow and we are upgrading our mid-term financial targets for 2019 to reflect the positive impact of the transaction.”

www.heidelbergcement.com

www.italcementigroup.com

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