Europe gives green light for Lafarge Holcim merger

European Commission provides clearance for proposed merger of the two companies

LAFARGE and Holcim have received clearance from the European Commission for their proposed merger.

Following discussions with the European Commission in the pre-notification period and throughout its Phase I investigation, the two companies have now finalized the list of assets for divestment in Europe, which, with the exception of a very slight change in France, corresponds to the list presented in October.

‘We are very pleased with the positive decision of the European Commission,’ commented Wolfgang Reitzle, designated chairman of the board of directors, and Bruno Lafont (pictured), designated CEO of the future combined company.

‘It reflects the quality of the preparatory work performed by both teams so far in creating the most advanced company in our industry. We remain firmly on track for a closing in the first half of 2015.’

Lafarge and Holcim say they are continuing to actively pursue negotiations for the sale of the assets for divestment with potential buyers, who will have to be pre-approved by the European Commission.

The divestments – which remain subject to the completion of the merger, including a successful public exchange offering and approval by Holcim’s shareholders in the second quarter of 2015 – will be carried out within the framework of the relevant social processes and ongoing dialogue with employee representatives’ bodies.

In the remaining jurisdictions where regulatory clearance is still pending, both Lafarge and Holcim say they will continue to co-operate with the relevant authorities to satisfy regulatory requirements.

The closing of the planned merger is expected in the first half of 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.