August 18, 2016 / 6:21 AM / 2 years ago

HeidelbergCement sells U.S. assets for $660 mln

BERLIN, Aug 18 (Reuters) - German cement and aggregates producer HeidelbergCement has agreed to sell assets in the United States to fulfill anti-trust requirements for its takeover of Italcementi, it said on Thursday.

HeidelbergCement said it has agreed to sell its Martinsburg, West Virginia cement plant and eight related terminals to Cementos Argos for $660 million and expects the transaction to close in the fourth quarter of 2016.

“Together with the disposals of the non-core assets and the Belgium assets of Italcementi we have exceeded our 1 billion euro target on disposal proceeds and thereby further improved the net financial position of HeidelbergCement,” CEO Bernd Scheifele said in a statement.

He said the disposal programme resulting from the Italcementi deal was therefore completed.

Reporting by Victoria Bryan; Editing by Andrea Shalal

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