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US and Canadian authorities approve LafargeHolcim merger proposal

World Cement,


Lafarge and Holcim have announced that they have received final approval for their proposed ‘merger of equals’ from US and Canadian competition authorities. This means that all the necessary approvals have now been received, smoothing the way to the transaction’s expected closing date of July 2015.

The obtained approvals have enabled the two cement and building materials producers to release a final list of the assets planned for divestment in order to meet regulatory requirements. These divestments, which are listed below, are subject to the completion of the merger and the successful public exchange offering to Lafarge’s shareholders and approval by Holcim’s shareholders.

European assets – to be divested to CRH

  • France: in metropolitan France, all of Holcim’s assets, except for its Altkirch cement plant and aggregates and ready-mix sites in the Haut-Rhin region, and a grinding station of Lafarge in Saint-Nazaire; Lafarge’s assets on Reunion island, except for its shareholding in Ciments de Bourbon.
  • Germany: Lafarge’s assets.
  • Hungary: Holcim’s operating assets.
  • Romania: Lafarge’s assets.
  • Serbia: Holcim’s assets.
  • Slovakia: Holcim’s assets.
  • United Kingdom: Lafarge Tarmac assets with the exception of its Cauldon and Cookstown plants and certain associated assets

United States

  • Lafarge’s 1.1 million t Davenport cement plant (Iowa) and seven terminals along the Mississippi River (Buyer: Summit Materials).
  • Three Holcim terminals in Michigan and Illinois (Buyer: Buzzi Unicem).
  • Holcim’s Skyway 600 000 t slag grinding station in Illinois (Buyer: Eagle Materials).
  • Holcim’s Camden 700 000 t slag grinding station in New Jersey, along with a terminal in Massachusetts (Buyer: Essroc/Italcementi).
  • Holcim’s Trident cement plant (Montana) and five terminals in the Great Lakes Region (Buyer: CRH presented as buyer).

Rest of the world

  • Canada: Holcim’s assets (Buyer: CRH presented as buyer).
  • Brazil: assets from both Holcim and Lafarge, which include three integrated cement plants and two grinding stations (with a total of 3.6 million tpy cement capacity), as well as some ready-mix plants located in the Southeastern region of Brazil (Buyer: CRH).
  • India: Lafarge’s Sonadih cement plant and Jojobera grinding station (with a total of approximately 5 million tpy cement capacity) in Eastern India (Buyer: divestment process ongoing).
  • Mauritius: Holcim’s assets (Buyer: to be determined).
  • The Philippines: the shares of Lafarge Republic, Inc. (LRI) from, and other specific assets of, the major shareholders namely Lafarge Holdings Philippines, Inc., South Western Cement Ventures, Calumboyan Holdings, Inc., and Round Royal, Inc.), except LRI's (i) investment in Lafarge Iligan, Inc., Lafarge Mindanao, Inc. and Lafarge Republic Aggregates, Inc., (ii) Star Terminal at the Harbour Center, Manila, and (iii) other related assets (Buyer: CRH).

Adapted from press release by

Read the article online at: https://www.worldcement.com/the-americas/05052015/us-and-canadian-authorities-approve-lafargeholcim-merger-proposal-780/


 

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