Acquisitions and disposals

Cementir Holding to sell all assets and activities in Italy

Rome, 19 September 2017 – Today Cementir Holding S.p.A. has entered into an agreement with Italcementi S.p.A., a fully controlled subsidiary of HeidelbergCement AG, to sell 100% of the share capital of Cementir Italia S.p.A., including its entirely owned participations in Cementir Sacci S.p.A. and Betontir S.p.A. (Cementir Italia Group). Cementir Italia’s business includes 5 integrated cement plants and 2 cement grinding centers as well as the network of terminals and ready-mixed concrete plants, all operating in Italy. The transaction has an enterprise value of EUR 315 million on a cash and debt-free basis. Closing is subject to the approval of the Italian Antitrust Authority and the transaction is expected to be completed at the beginning of next year. In 2016 pro-forma sales revenue of Cementir Italia Group stood at EUR 136 million, keeping into account Cementir Sacci for 12 months as it was acquired on July 29th, 2016

Francesco Caltagirone, Chairman and CEO of Cementir Holding stated: “As a result of this transaction, Group net financial debt to Ebitda ratio will be close to 0.5x at the end of 2018. This will enable the Group to take the opportunities arising in the future, as it has happened during the last twelve months".