Cement News tagged under: SACCI
Cementir: hearing with creditors and opening of creditors’ vote for Sacci's composition16 March 2016, Published under Cement NewsCementir Holding has announced that the hearing with creditors for Sacci’s composition, which includes the offer to purchase its business divisions submitted by Cementir Holding’s subsidiary Cementir Italia Spa, was held on 14 March 2016 before the Court of Rome. The offer was formally accepted by the Board of Directors of Sacci Spa during its meeting on 10 March 2016. Sacci’s creditors will be able to express their vote within 20 days of the hearing, in accordance with Article 178, para... |
Cementir given antitrust approval for Sacci deal08 March 2016, Published under Cement NewsThe 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 ... |
Buzzi Unicem05 January 2016, Published under Cement NewsThe Italian anti-trust authority has cleared the proposed acquisition by Buzzi Unicem of the cement and aggregates operations of SACCI SpA. However, this deal now looks unlikely to go through as a higher offer for these operations was made by Cementir at the end of December. Cementir is a global reader in white cement and produces grey cement in Denmark, Italy and Turkey. |
Cementir outbids Buzzi to buy Sacci30 December 2015, Published under Cement NewsShares of Italian cement group Buzzi Unicem fell after Cementir outbid its offer for the cement and ready-mix concrete business units of the Italian group Sacci SpA. Sacci has decided to include the EUR125m offer from Cementir Italia in the Sacci creditor protection plan, replacing a previous offer from Buzzi Unicem. Buzzi Unicem’s offer to purchase Sacci SpA had originally been made in March 2015 and had been approved by Italy’s Antitrust Authority in December. |
Anti-trust authority approves Buzzi deal23 December 2015, Published under Cement NewsItaly's Antitrust Authority has approved Buzzi Unicem's offer to purchase the SACCI business unit and informed the Italian cement producer that it will not to open an investigation about the purchase transaction of SACCI SpA (SACCI). Buzzi Unicem is now clear to proceed further with the acquisition. The Buzzi Unicem offer remains under review by SACCI and the bodies of the composition proceedings initiated by SACCI. The outcome of the Buzzi Unicem offer depends on the development of the afo... |
Buzzi Unicem makes binding bid for SACCI15 September 2015, Published under Cement NewsBuzzi Unicem has made a second offer for fellow Italian producer SACCI to acquire its cement and ready-mix concrete business. In a statement Buzzi said it had offered a provisional price of EUR74m to be financed through liquidity on hand and/or existing credit facilities. A further variable outlay is expected on top of the original commitment which will be worth no less than EUR25m, Buzzi said. This variable outlay is connected to certain future events, most importantly the core earning... |
Buzzi Unicem's bid for Sacci expires05 May 2015, Published under Cement NewsBuzzi Unicem’s offer to buy Sacci SpA has expired after being rejected by the banks and creditors and the bidder is no longer bound to any commitment, the Italian cement major announced. “We inform that the population of the banks and creditors that take part in the debt restructuring agreement pursuant to article 182-bis of the Bankruptcy Law did not endorse the proposal by Buzzi Unicem. The offer has expired today and as such Buzzi Unicem is released from any subsequent commitment,” Buzzi... |
Buzzi offer to purchase SACCI SpA accepted27 March 2015, Published under Cement NewsBuzzi Unicem announced today that further to its proposed purchase of a 99.5 per cent interest in the share capital of SACCI SpA, controlling shareholders have accepted the binding offer. Last week Buzzi announced that it had Buzzi Unicem is offering €120m for the stake in SACCI and the simultaneous relief of all outstanding liabilities from a previous debt restructuring agreement. Buzzi highlighted that execution of the contract is still subject to the endorsement of the banks and credit... |
Buzzi Unicem proposes to acquire SACCI19 March 2015, Published under Cement NewsBuzzi Unicem is offering EUR120m for a 99.5 per cent stake in SACCI and the simultaneous relief of all outstanding liabilities from a previous debt restructuring agreement. The proposal is seen as a further step in the consolidation of the fragmented Italian cement industry, where Buzzi Unicem is the second largest producer behind Italcementi. SACCI presently operates four cement plants, representing a current combined cement capacity of some 2Mta and 31 ready-mixed concrete batching pl... |
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