Holcim Ltd sells minority holding in German building materials producer Dyckerhoff AG.
Since 1947 Holcim Ltd has held a minority stake of approximately 10 percent in Wiesbaden-based cement and building materials producer Dyckerhoff AG.
Under a periodic review of its portfolio of shareholdings, Holcim has decided to sell off its stake in Dyckerhoff.
In a first step, Buzzi Unicem S.p.A. will acquire from Holcim 5.5 percent of all ordinary shares and 0.6 percent of the preferred shares of Dyckerhoff AG for the sum of EUR 25.4 million.
A put and call option have been contractually agreed for a further 1.1 million ordinary shares (5.3 percent) at a price of EUR 24.6 million.
These options may be exercised at the beginning of 2004.
With majority and minority interests in more than 70 countries on all continents, Holcim is one of the world's leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services.
The Group employs a workforce of some 50,000.