Italy: Buzzi Unicem has completed its acquisition of Zillo Group with its acquisition of the remaining 52.1% of the share capital of Cementizillo. Following the acquisition it now owns 100% of the company. The agreement was originally announced in mid-June 2017. Buzzi Unicem has paid Euro19m plus 450,000 shares in Buzzi Unicem for its purchase of the majority stake in Cementizillo. Further payments will follow with an additional variable payment of up to Euro21m depending on the average price of Buzzi Unicem cement in Italy from 2017 to 2020.
Buzzi Unicem completes acquisition of Zillo Group
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