# Italtile's acquisition of Ceramic Industries conditionally approved

Italtile's binding offer to acquire up to a further 73.5% of Ceramic Industries for R3.61 billion has been conditionally approved by the Competition Tribunal. The purchase consideration will be settled 50% in cash and 50% in Italtile shares.

- Type: Acquisition
- Announced: 2017-08-22
- Where: South Africa
- Value: $270.0M (3.61B ZAR)
- Status: announced
- Products: ceramic tiles
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Italtile](https://endata.com/companies/26429.md) (acquirer)
- [Ceramic Industries](https://endata.com/companies/26430.md) (target)
- [Ezee Tile](https://endata.com/companies/26767.md) (target)

## Sources

- [sharenet.co.za](https://www.sharenet.co.za/v3/sens_display.php?seq=3&tdate=20170822070500), 2017-08-22: "The Competition Tribunal announced that the merger has been conditionally approved."
- [eprop.co.za](https://eprop.co.za/commercial-property-news/item/20797-approval-of-italtile-merger-with-ceramic-industries-ceramic-and-ezee-tile), 2017-09-06: "The Competition Tribunal announced on 21 August 2017 that the Acquisition has been approved, subject only to one condition."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.