HeidelbergCement achieved a high acceptance rate in the mandatory tender offer to the remaining shareholders of Italcementi. According to provisional results, 165,371,229 Italcementi shares were tendered at the end of the subscription period, on 30 September 2016.

In addition, HeidelbergCement purchased 14,000,000 Italcementi shares outside the offer on the stock exchange. Together with the 45 per cent stake already acquired from Italmobiliare on 1 July 2016, the tendered and acquired shares amount to 336,543,036 shares equal to 96.356 per cent of the share capital and voting rights of Italcementi.

The consideration due to the holders of the ordinary shares of Italcementi tendered in the offer will be paid on 7 October. Thereafter, the Italcementi shares will be delisted from the stock exchange.

"We are very glad that our offer for the outstanding Italcementi shares was successful," said Dr Bernd Scheifele, chairman of the managing board. "This is a major step forward to the completion of the Italcementi takeover. Next, we'll make use of our right to acquire the remaining shares of Italcementi. Due to the high acceptance rate, we can quickly go ahead with the integration of Italcementi and realisation of synergies."

Since HeidelbergCement has come to hold a stake greater than 95 per cent, it has the right to purchase the remaining 12,727,644 shares not yet tendered in the offer, at the same consideration offered to shareholders who tendered their shares in the offer, ie EUR 0.60 per share.

HeidelbergCement expects the entire transaction to be completed in the month of October 2016.