German firm HeidelbergCement completed a takeover of peer Kerpen & Kerpen on Monday, paying for the deal through the issuance of new shares.
HeidelbergCement paid the €23.5m purchase price in 416,477 new shares, around 0.22% of the outstanding share capital. The deal takes its holding in Kerpen & Kerpen from 30% to 100%.
HeidelbergCement acquired its 30% stake in Kerpen & Kerpen in 1999.
HeidelbergCement is one of the world's largest manufacturers of