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Heidelberg Materials Restructures Moroccan Subsidiary: AMMC Validates Internal Share Transfer
The Moroccan Capital Market Authority (AMMC) has officially recognized an internal restructuring within the Heidelberg Materials group concerning its stake in Ciments du Maroc. This transaction involves the transfer of Procimar shares from the Italian arm to the German holding entity, resulting in significant threshold crossings.
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Internal Restructuring of Ciments du Maroc Under Heidelberg Materials
The Autorité Marocaine du Marché des Capitaux (AMMC) has released official notices regarding a significant internal reorganization within the Heidelberg Materials group. This transaction involves the transfer of shares in Ciments du Maroc, specifically focusing on the divestment of the Procimar subsidiary.
Heidelberg Materials Italia Cementi Spa has completely exited its holding in Procimar, thereby crossing the 10% and 5% ownership thresholds downward in Ciments du Maroc. Following this transaction, the Italian entity no longer holds any shares in the Moroccan cement producer, whether directly or indirectly.
Conversely, Heidelberg Materials AMWA Holding GmbH has acquired the entirety of Procimar's capital. This acquisition caused the German holding company to cross the same 5% and 10% thresholds upward in Ciments du Maroc.
This reorganization allows Heidelberg Materials AMWA Holding GmbH to consolidate its control over the Moroccan cement producer. The entity now holds a total stake of 51% in Ciments du Maroc, equivalent to 7,362,383 shares. The breakdown of this stake is as follows:
- 41% (5,918,737 shares) held directly.
- 10% (1,443,646 shares) held indirectly through its subsidiary Procimar.
Both official statements clarify that Heidelberg Materials Italia Cementi Spa, Heidelberg Materials AMWA Holding GmbH, and Procimar have declared that they are acting in concert.