HeidelbergCement take full stake in Kerpen & Kerpen
Cement giant takes over German transport logistics company in exchange for new shares
BUILDING materials giant HeidelbergCement have increased their participation in the logistics company Kerpen & Kerpen GmbH & Co. KG from 30% to 100%.
The purchase price of around €23.5 million was paid in the form of 416,477 new HeidelbergCement shares, which were issued as part of a capital increase in return for contributions in kind.
Kerpen & Kerpen will be fully integrated into HeidelbergCement’s business in Germany, constituting the core of the transport logistics that will be centrally organized in the future.
In 1999, HeidelbergCement acquired 30% of the logistics company Kerpen & Kerpen and entered into a management contract in 2003, whose minimum term expired at the end of 2013. The takeover of the remaining stake in exchange for new HeidelbergCement shares is based on option rights, which were granted at that time.
Kerpen & Kerpen GmbH & Co. KG were founded in 1967. The company owns and operates a fleet of 100 silo trucks and is active in the trading and transport of cement, fly ash and other powder goods in Germany, Belgium, Holland, Luxembourg, France, Switzerland and Austria.
