HeidelbergCement Closes Successful Public Tender in Bosnia

  • First large-scale public tender offer in Bosnia and Herzegovina
  • HeidelbergCement achieves two-thirds threshold in Kakanj cement

HeidelbergCement, one of the world's leading companies in the construction and building materials industry,  has increased its shareholding in the Kakanj cement plant, the largest cement producer in Bosnia and Herzegovina, via a public tender offer. The transaction represented the first large-scale public tender offer on the Sarajevo Stock Exchange. CA IB acted as exclusive financial advisor to HeidelbergCement, with HVB Bank Bosnia and Herzegovina taking care of the transaction as depositary bank and paying agent, and HypoVereinsbank providing the guarantee.

The take-over resulted in HeidelbergCement purchasing 22.22% of the share capital of the Kakanj cement plant at an aggregate price of EUR 4.58 million or EUR 2.17 per share. With this transaction HeidelbergCement achieved its goal of reaching the two-thirds threshold required by national regulations to form a governing majority. So far, HeidelbergCement had owned a 51.72% stake.

Although very complex in structure, the transaction was executed according to the original timetable, with no price increases or timeframe extensions. With this public tender offer, CA IB continued its role as HeidelbergCement’s advisor for the acquisition of majority stake during the privatisation process in 2000.

Inquiries: Bank Austria Creditanstalt 
Veronika Fischer-Rief; Tel: +43 (0) 50505 – 82833
Email: veronika.fischer-rief@ba-ca.com