Displaying items by tag: SACCI

Italy: Italian cement producer Sacci has accepted a Euro125m offer from Cementir Italia for the acquisition of a branch of Sacci, including assets in the cement, concrete and transport sector, replacing a previous offer presented by Buzzi Unicem. Cementir Italia will pay part of the price at the closing of the operation and the remaining part 24 months later.

Italy: Buzzi Unicem has presented a binding offer to buy Sacci's cement and ready-mix concrete units as it pushes ahead with plans to play an active role in the consolidation of the construction materials sector in Italy, according to Reuters. In a statement, Buzzi said that it had offered a provisional price of Euro74m 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 Euro25m. This variable outlay is connected to certain future events, most importantly the core earnings, earnings before interest, taxes, depreciation and amortisation (EBITDA), posted in Italy in the next four years.

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.

Italy: Buzzi Unicem has presented a binding offer to buy 99.5% of the Italian cement producer SACCI for Euro120m. The offer would be funded from cash and existing credit lines and would see Buzzi take on SACCI's debt. Buzzi said that it might in future pay an additional sum, depending on events like the achievement of a certain level of sales of the two companies and the possible sale of non-core activities.