Clifford Chance advised HeidelbergCement, one of the world’s largest integrated manufacturers of building materials, in connection with the sale of a minority stake in the share capital of Ciments du Maroc.
HeidelbergCement sold 7.8% of the share capital of Ciments du Maroc for an aggregate amount of approximately €140 million, as part of its action plan to improve cash generation. The shares were sold to certain Moroccan institutional investors.
Following this transaction, HeidelbergCement will retain a controlling stake of 54.6% in Ciments du Maroc and continue to fully consolidate the company.
The Clifford Chance team that advised HeidelbergCement in this transaction was led by Mustapha Mourahib (Picture), Managing Partner, assisted by Nathalie Zanardo, Senior Associate.
HeidelbergCement was also advised by BNP Paribas and BMCI (as financial advisors).