CRH acquisition moves Lafarge Holcim merger closer
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Dublin-based materials giant CRH has acquired a raft of assets from Lafarge and Holcim, clearing the way for the latter two firms to merge.
As part of their proposed merger, Lafarge and Holcim have entered exclusive negotiations further to a binding commitment made by CRH regarding the sale of several assets, including Lafarge Tarmac, with the exception of the Cauldon cement plant, in a deal worth £4.9 billion.
Other assets acquired include production sites in 11 countries, including Brazil, the Philippines and Canada. The deal increases CRH’s capacity by more than a third.
Wolfgang Reitzle, designated chairman of the board of directors of Lafarge Holcim and Bruno Lafont, designated CEO of the future combined company, said: “The projected transaction is a key step towards the creation of LafargeHolcim and the value offered reflects the strong quality of the selected assets.
“This successful outcome demonstrates the quality of the collaborative work undertaken by Holcim and Lafarge teams. With this announcement, we remain firmly on track to complete our proposed merger in the first half of 2015.”
The sale is subject to the successful completion of the Lafarge Holcim merger and regulatory approvals.
The closing of the planned merger is expected in 2015.
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