Company officials refused to comment on the speculations, but a Holcim spokesman said that “the group is permanently assessing opportunities which can bring added value,” according to the Mediafax news agency, quoting foreign sources. However, the company official said that acquisitions of such proportions would be difficult to finance in the current economic and financial context.
The value of HeidelbergCement shares in Germany increased four percent on Friday, due to the rumors regarding a takeover by the Swiss group. Nevertheless, one trader was skeptical, saying that such an acquisition could be rejected by European competition authorities. Moreover, a Swiss analyst said that a full takeover is unlikely, considering the complexity of the transaction and the high risk that Holcim would be exposed to.
Holcim and HeidelbergCement are direct competitors in several European Union member states, and share the Romanian cement market with the French Lafarge group. Holcim’s global level sales amounted to €16.3 billion in 2007, while HeidelbergCement’s business reached €10.8 bln.
