Heidelberg, Germany  - Heidelberg Cement, the indebted German building materials group, is seeking an infusion of 3 billion euros (4 billion dollars), the newspaper Financial Times Deutschland reported Thursday.

Quoting a "person familiar with the situation," it said the procedure to raise the money had begun. Heidelberg Cement had spoken with various potential new investors, but it was proving difficult to raise funds without ceding control.

Asked by the German Press Agency dpa to confirm the newspaper's figure, a Heidelberg Cement spokeswoman would only say that the group was altering its financial arrangements, was talking to investors and was "well on the way." She would give no details.

Heidelberg Cement is majority owned by VEM und Spohn, two companies belonging to Germany's Merckle family. The family head, Adolf Merckle, committed suicide last year after speculative investments turned sour and the billionaire lost much of his fortune.

Heidelberg Cement remains saddled with huge debt after borrowing to take over British cement company Hanson for 14 billion euros two years ago. (dpa)