CCI approves acquisition of Italcementi SpA by Heidelberg

Q.  CCI on 24th September 2015 has approved German firm Heidelberg Cement’s acquisition of which company?
- Published on 26 Sep 15

a. Italcementi SpA
b. Italy Cements SpB
c. Ambuja Cements
d. None of the above

ANSWER: Italcementi SpA
 
German company Heidelberg announced plans to purchase Italcementi SpA for 3.7 billion Euros. According to the deal,Heidelberg will acquire primary shareholder Italmobiliare’s 45% stake in Italcementi and make open offer to numerous stakeholders. Heidelberg Cement was founded in the 1870s by Johann Philipp Schifferdecker, at Heidelberg, Baden-Wurttemberg, Germany. This MNC is the world’s third largest cement producer in the world. Italicementi is an Italian MNC formed in 1864 at Bergamo, Italy. It is the fifth largest cement producer across the globe.

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