STOCKS NEWS EUROPE-HeidelbergCement up on bridge loan news

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11:22GMT 07Jan2009-HeidelbergCement up on bank agreement news

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Shares in German cement maker HeidelbergCement (HEIG.DE) rise 5.3 percent after two people familiar with the matter tell Reuters that the group of banks which has been in talks with Germany's Merckle family over granting a bridge loan has transferred the lifeline worth 400 million euros ($538.7 million).

The money transfer has been approved, giving the ailing business conglomerate time to restructure its finances, the two people said. "This could of course provide some relief amongst HeidelbergCement investors after all that back and forth in the past weeks," one trader says. The Merckle family controls around 80 percent of HeidelbergCement.

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