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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the « summary of the operation » below, containing the information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented.
Names of the companies and individuals involved:
- The acquirer: The company “Heidelberg Materials Holding SARL”, a subsidiary of the Heidelberg Materials AG group active in Morocco through the Moroccan company Ciments du Maroc.
- The target: The company “Cementos Asment EEA” active in Morocco through its Moroccan subsidiaries: the company “Asment de Temara SA” and the company “Grabemaro SA”.
Nature of the operation
- Acquisition of exclusive control.
Economic sector concerned:
- Production and distribution of construction materials.
Deadline for interested third parties to submit their observations:
– 10 days from the date of publication of this press release, i.e. on October 14, 2024.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION
PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration operation by which “Heidelberg Materials Holding SARL” (Heidelberg Materials Holding), a subsidiary of “Heidelberg Materials AG”, intends to acquire from “Votorantim Cimentos EAA Inversiones SLU”. (Votorantim Cimentos) the entire share capital and voting rights of “Cementos Asment EAA” (Cementos Asment).
“Heidelberg Materials Holding” is a limited liability company under Luxembourg law, with a share capital of 11.501.651.090 euros, with its registered office at 5, rue des Primeurs, 2361, Strassen, Luxembourg, registered with the Luxembourg Trade and Companies Register under number B 131,709. The main activities of the company consist of financing the entities of the Heidelberg group, active in the production and distribution of cement, aggregates (sand, gravel, and crushed stone), ready-mix concrete, and asphalt. In the national market, the parent company of “Heidelberg Materials Holding SARL” operates through its subsidiary “Ciments du Maroc SA”.
“Cementos Asment” is a limited liability company established under Spanish law, with a share capital of 852,297 euros, with its registered office at Calle Brasil, 56, Vigo, Province of Pontevedra, Spain, and registered under number B27780048. “Cementos Asment SA” is mainly engaged in the manufacture, acquisition, disposal, import, export, distribution, transportation, and general marketing of aggregates and concrete, lime, mortar, gypsum, cement, and cement-based products and their respective raw materials and derived or related products. In the national market, “Cementos Asment SA” operates through its Moroccan subsidiaries, the companies “Grabemaro SA” and “Asment de Temara SA”.
“Votorantim Cimentos” is a single shareholder simplified joint-stock company, with a share capital of 275,410,031 euros, with its registered office at Calle Brasil, 56, Vigo, Province of Pontevedra, Spain, registered with the Pontevedra Trade Register, and with tax identification number B27778091. The company is active in the construction materials, mining, agricultural lime, co-processing, and waste management sectors.
Concurrently with the operation, “Heidelberg Materials Holding SARL” will transfer to the Moroccan subsidiary “Ciments du Maroc SA” of “Heidelberg Materials AG”, the Moroccan companies “Grabemaro SA” and “Asment de Temara SA”.
Done in Rabat, on October 3, 2024
