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HeidelbergCement AG

euro adhoc: HeidelbergCement AG
Mergers - Acquisitions - Takeovers / Recommended cash offer by HeidelbergCement for Hanson plc; 7.375% High Yield Bond Call

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
15.05.2007
HeidelbergCement AG, Heidelberg/Germany, has agreed to make a cash 
offer to acquire the entire share capital of Hanson plc, London/UK, 
for 1,100 pence per share. The board of directors of Hanson intends 
to recommend Hanson shareholders to accept the offer.
It is intended that the acquisition will be implemented by way of a 
Court sanctioned scheme of arrangement. The scheme will be 
conditional upon the requisite approval of Hanson´s shareholders and 
the English Courts. The acquisition will also be conditional upon the
satisfaction or waiver of European, Canadian and US competition 
authority clearance. HeidelbergCement currently anticipates that the 
transaction will be completed in the third quarter of 2007.
The funds required for the acquisition will initially be provided 
under a new credit facility entered into with Deutsche Bank and The 
Royal Bank of Scotland. The credit facility will be partly refinanced
through a combination of hybrid-capital in an amount of up to Euro 2 
billion, the issue of bonds and the divestments of non-core business 
activities. It is HeidelbergCement's intention to maintain an 
investment grade rating for the enlarged group, and to support its 
objective it intends, in addition to raising the funds required to 
finance the Acquisition, to undertake a cash capital increase in an 
amount approximately Euro 500 million.
Further on, HeidelbergCement will make use of the optional redemption
clause and redeem all the notes outstanding of 7.375% Senior Notes 
due 2010 on July 15th 2007.  The redemption price will be 103.688% of
the principal amount plus accrued interest.
HeidelbergCement AG
The Managing Board
end of announcement                               euro adhoc 15.05.2007 07:31:44

Further inquiry note:

Ingo Schaffernak
+49(0)6221/481-366
ingo.schaffernak@heidelbergcement.com

Branche: Construction & Property
ISIN: DE0006047004
WKN: 604700
Index: HDAX, MDAX, Classic All Share, Midcap Market Index, Prime All
Share, CDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Niedersächsische Börse zu Hannover / free trade
Baden-Württembergische Wertpapierbörse / official dealing
Börse Düsseldorf / official dealing
Bayerische Börse / official dealing

Plus de actualités: HeidelbergCement AG
Plus de actualités: HeidelbergCement AG