July 30, 2014 / 10:20 AM / 3 years ago

HeidelbergCement to start sale of building materials in Sept

FRANKFURT, July 30 (Reuters) - HeidelbergCement expects the information on the sale process of its building products business would be sent out to potential buyers in late September, Chief Executive Bernd Scheifele said on Wednesday.

Speaking to reporters after the German cement maker released its quarterly results, he said he expected the sale of the building products business to be concluded swiftly because the potential buyers are private equity funds, not industrial buyers, and therefore there would be no cartel issues weighing on the deal.

He said HeidelbergCement would look at the assets to be sold by Lafarge and Holcim but that it would not be interested in those located in the United Kingdom and Germany due to cartel issues.

He said the company has “sufficient” financial resources to fund any acquisition of assets to be divested by Lafarge and Holcim but that it would be too early for now to talk about any potential capital measures to bolster its financial flexibility. (Reporting by Marilyn Gerlach; Editing by Kirsti Knolle)

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