HeidelbergCement France SAS made an offer to acquire 37.69% stake in Ciments du Maroc, Société Anonyme (CBSE:CMA) for MAD 6.2 billion on July 4, 2016. As part of the deal, HeidelbergCement France SAS will make a tender offer for 5.44 million shares at a price of MAD 1,130. The deal is subject to approval of the Casablanca Stock Exchange. On August 19, 2016 the Moroccan Financial Market Authority authorized a prospectus relating to a mandatory public tender offer on the shares of Ciments du Maroc by HeidelbergCement France SAS. Under the terms of the prospectus, the offer will open on August 29, 2016 and close on September 6, 2016. The proposed date for settlement and delivery is September 23, 2016. Banque Marocaine pour le Commerce et l'Industrie acted as financial advisor and global coordinator to HeidelbergCement while BMCI BOURSE GROUPE BNP PARIBAS acted as the centralizing agent in the deal. BNP Paribas acted as financial advisor to HeidelbergCement. David Wales of Jones Day acted as legal advisor to HeidelbergCement HeidelbergCement France SAS completed the acquisition of 37.69% stake in Ciments du Maroc, Société Anonyme (CBSE:CMA) on September 16, 2016.