Italy: Buzzi Unicem's offer to buy local Sacci has expired after being rejected by the banks and creditors. Buzzi is no longer bound to any commitment. Buzzi Unicem filed a binding offer in March 2015 to acquire 99.5% of Sacci for Euro120m, planning to fund the deal with available cash and/or existing credit facilities. Sacci has been undergoing debt restructuring under Italy's bankruptcy act. The deal was subject to approval by the anti-trust authority and the banks and creditors involved in the debt restructuring of Sacci.
Buzzi Unicem’s bid for bankrupt Sacci expires upon creditors’ rejection
Written by Global Cement staff
Published in
Global Cement News
Tagged under
Register for the Global Cement Weekly email newsletter
Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.