Cementir given antitrust approval for Sacci deal

The Italian Antitrust Authority has approved Cementir’s offer to purchase Sacci Spa's cement and ready-mix concrete business divisions.

In a statement released yesterday, Cementir Holding said the Italian watchdog had published its decision not to carry out an investigation into the transaction, thus authorising subsidiary Cementir Italia to proceed with the acquisition.

Sacci’s composition with creditors will be submitted to the vote of its creditors at a hearing set by the Court for 14 March 2016. If the vote by Sacci’s creditors is favourable to the composition, it will then be subject to endorsement by the Court of Rome.