The Competition Commission of India (CCI) has announced that it will be inviting public comments on the planned merger between construction material giants Holcim and Lafarge. According to the CCI, it was notified of the companies’ proposed merger in July 2014. This comprises an exchange offer that will result in Holcim acquiring all of Lafarge’s outstanding shares.
The CCI has ‘formed a prima facie opinion that the combination is likely to have an appreciable adverse effect on competition’ according to the terms of Section 29(2) of the Competition Act (2002). As such, it has requested that Lafarge and Holcim publish details of the merger in all India editions of four leading daily newspapers, including at least two business newspapers, as well as on their respective websites. The details can also be found on the CCI’s website.
The CCI is inviting all those who may be impacted or adversely affected by the merger to send their comments, objections and suggestions in writing to the Commission within 15 days of the publication of the merger details.
Lafarge is present in India through subsidiaries such as Lafarge India Private Limited and Lafarge Aggregates & Concrete India Pvt Ltd. Holcim’s subsidiaries in the country include ACC Limited and Ambuja Cements Limited.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/24112014/cci-invites-public-comments-on-proposed-lafarge-holcim-merger-900/