Heidelberg Cement is expected to announce plans to restructure its debts

Market analysts have suggested that Heidelberg Cement will restructure its €6billion of debts before next year and is likely to present plans to banks at the end of the first quarter this year. According to the analysts, the company’s debts exceed €10billion in net terms.

Some of these debts are due to mature in 2010 but analysts expect the company to work on the refinancing now following the death of its major shareholder Adolf Merckle this week. The Merckle Group is believed to hold and 80% stake on the business and it is not yet clear whether this will be sold off following Merckle’s death. The family of Merckle have already indicated that it will dispose of shares in pharmaceutical company Ratiopharm based on papers signed by Merckle two hours before his death.

The Merckle family has said that it will withdraw from day-today business in Merckle’s investment company VEM and will focus on administration investments. In line with this, Merckle's oldest son, Ludwig Merckle, has announced his withdrawal from the VEM management board.