Categories: Cement

Lafarge, Holcim agree on terms of merger plan

Paris, April 08,2014 – Two of the world’s largest cement makers, France’s Lafarge and Switzerland’s Holcim , had agreed on the terms of a merger that would create a company with a stock market value of around $55 billion, a source close to the situation said on Sunday.

Such a merger would be the industry’s biggest-ever tie-up and create an entity with combined annual sales of $40 billion, raising the likelihood it will draw extra scrutiny from global competition watchdogs. Lafarge and Holcim had approved the proposal and were to announce it on Monday, the source said.

The two groups have already begun to address possible competition concerns that would arise, the source added. “The boards (of Lafarge and Holcim) met yesterday and approved the proposal… An official communication is due on Monday.”

Lafarge declined to comment. Holcim was not immediately available for comment. The two firms had issued statements on Friday announcing they were in advanced talks to merge, a deal that would help them slash costs, trim debt and better cope with the soaring energy prices and weaker demand that have hurt the sector since the 2008 economic crisis. Their share prices jumped to four-year highs on the news, lifting the entire cement sector. Business Standard

The Property Times News Bureau

Share
Published by
The Property Times News Bureau

Recent Posts

NAREDCO Maharashtra NextGen Ties Up with Brigade REAP to Strengthen PROPEL, Empowering Emerging Entrepreneurs in Real Estate

Brigade REAP Incubates 76 Proptech Startups, Leading India's Largest Proptech Ecosystem with ₹200 Cr Earth…

5 days ago

Dr. Gautam Kanodia: Redefining Luxury Real Estate with KREEVA

New Delhi, November 22, 2024: Dr. Gautam Kanodia has emerged as a visionary leader, redefining…

5 days ago

The Rise of Premium Luxury Residences: How NCR is Setting New Standards

New Delhi, November 21, 2024: Over the years, Delhi-NCR has emerged as a hotspot for…

6 days ago

3A Composites’ Flagship BrandALUCOBOND Launches a Premium Product ‘ALUCODUAL®’

~ The Company strengthens the product portfolio with the launch of innovative & ‘Made in…

6 days ago

Government Policies and Housing Premiums Under Spotlight in latest Mumbai Realty Report

- NAREDCO Maharashtra and 1 Finance Unveils Comprehensive Study on Mumbai's Real Estate Landscape -…

7 days ago

Onward Workspaces Expands with leasing 18,000 Sq. Ft. Premium Facility at Emaar Capital in Gurgaon, Catering to Global Enterprise

The announcement marks a major step in offering Flexible Grade-A Office Solutions for Modern Businesses…

7 days ago