DLA Piper has advised German cement group HeidelbergCement on the structure of a divestment strategy and the subsequent sale of several assets in Spain
In Catalonia, it has signed with Cementos Molins, through its subsidiary PROMSA, an agreement to sell its aggregates and concrete business in the region, including two concrete plants in Zona Franca de Barcelona and Montcada i Reixac, as well as a quarry in Begues and another in Llinars. This operation has been structured through Hanson Hispania, a subsidiary of the German cement group.
In Asturias, it has agreed with Grupo Mota the sale of its branch of activity consisting of the operation of a limestone quarry and a ready-mixed concrete manufacturing plant.
HeidelbergCement has also agreed with the sale of a limestone quarry and three concrete plants to Mexico-based cement producer Cemex.
DLA Piper team advising HeidelbergCement has been led by Corporate partner Joaquín Echánove (pictured top left), who has been supported by Luis Borrero (pictured right centre) and Pablo García (pictured bottom left), Legal director and senior associate respectively, from the same department, who have worked together with in-house lawyers Sonia Fernandez Lovelle (pictured centre), Legal director of HeidelbergCement Western & Southern Europe and Iñigo García Atance (pictured top right), Legal director for Spain. DLA Piper Spain Competition partner Joaquín Hervada (pictured left centre) has been in charge of the relevant Competition Law matters together with Rafael Maldonado (pictured bottom right), senior associate.
On this transaction, Joaquín Echánove, commented: “We are delighted to advise HeidelbergCement on this complex and diverse set of transactions, thereby helping it to implement its strategic plan to focus its business in key regions in Spain.”
Joaquín Hervada, said: “It is paramount to structure investment/divestment transactions correctly and from the outset. We are glad to have been able to bring added value to HeidelbergCement and to accompany them in this process.”