Rivals Holcim, HeidelbergCement Compete for Sika's US Unit [Business News Network (BNN) (Canada)]
HEIDELBERGCEMENT UNSP/ADR (HDELY)
NASDAQ:AMEX Investor Relations:
heidelbergcement.com/en/investor-relations
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Source: Business News Network
Turkish conglomerate Haci Omer Sabanci Holding AS is also interested in the asset, which could be valued at about $800 million to $1 billion, the people said, asking not to be identified discussing confidential information. They are among companies in the second round of bidding for the unit, which creates products for building with cement and concrete, the people said. Switzerland-based Sika is selling the admixtures business to help win regulatory approval for its 5.5 billion Swiss-franc ($5.6 billion) takeover of German rival MBCC Group -- its largest ever deal. Sika is also offloading a smaller operation in Australia and may divest some European plants later this year, the people said. Some bidders could still decide against making further offers, while other suitors could still emerge, the people said. Representatives for Sika, HeidelbergCement and Holcim declined to comment. Sabanci couldn't be immediately reached outside regular business hours. Sika's US sale would add t
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