BNP Paribas and BMCI advised HeidelbergCement on the sale of the shares.
“HeidelbergCement is fully committed to remain the long-term majority shareholder of Ciments du Maroc, a key strategic asset within the group’s portfolio,” said Dr Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. “The reduction in shareholding is part of our action plan to optimise our portfolio and generate cash in order to speed up deleveraging. We continue to be well on track to reach our target of €1.5 billion of disposal proceeds by the end of 2020.”
