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Sat September 19 2020

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Europe clears Lafarge-Holcim merger

16 Dec 14 The European Commission has given Lafarge and Holcim clearance to go ahead with their proposed merger, which is expected to complete in the first half of 2015.

Regulatory clearance is still pending in some other jurisdictions - both companies will continue to cooperate with the relevant authorities to satisfy requirements.

Following discussions with the Commission, Holcim and Lafarge have now finalised the list of assets for divestment in Europe. The list essentially corresponds to the one presented in October, with the exception of a slight change in France.

"We are very pleased with the positive decision of the European Commission. It also reflects the quality of the preparatory work performed by both teams so far in creating the most advanced company in our industry. With this decision, we remain firmly on track for a closing in the first half of 2015," said a joint statement from Professor Dr Wolfgang Reitzle, designated chairman of the board of directors and Bruno Lafont, designated CEO of the future combined company.

Lafarge and Holcim continue to pursue negotiations for the sale of the assets with potential buyers, who will have to be pre-approved by the European Commission. The divestments remain subject to the completion of the merger.

The closing of the planned merger is expected in H1 2015, with the aim of creating the most balanced and diversified portfolio in the industry, operating in 90 countries and creating superior value for its stakeholders and customers.

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