HeidelbergCement rule out bidding for Lafarge Holcim assets

Company to use proceeds from disposals to reduce debt and fund its own growth projects

IN a brief ad hoc announcement, HeidelbergCement have said that, following a thorough analysis, the company has decided to refrain from the ongoing bidding process for the assets offered for sale by Lafarge and Holcim in the frame of their merger proceedings.

HeidelbergCement say they intend to use the anticipated proceeds from the sale of their building products business in North America and the UK for debt reduction and for their own high-quality growth projects.