 |
 |
||||||
[July 2009]
Proposed Merger Between Italcementi and Ciments Français Abandoned
Italcementi and Ciments Français announced, after their respective Boards of Directors meetings held on 26 June 2009, that the conditions they had set for their planned merger have not been met.
The requests presented by the group of US institutional investors who hold notes issued by Ciments Français in 2002 and 2006, for a total amount of US$500 million, were indeed deemed excessive and unacceptable by the two companies, and not consistent with the purpose of the merger.
Accordingly, the proposed merger was abandoned.
www.italcementigroup.com
ENDS