Heidelberg’s Eu4.4bn deal wins 300 backers

24 Sep 2009

Heidelberg Cement proved that the equity market remains the ultimate refinancing source for struggling companies when over 300 global investors joined its Eu4.4bn capital increase and placing of existing shares.

The deal allows Heidelberg to address a pressing need to reduce debt while at the same time clearing a large overhang of existing shares held by the founders and their lending banks.

"Heidelberg has just undergone an immense refinancing under which around 60% of the company was sold ...

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