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Holcim and Lafarge reached a binding agreement with CRH on divestments. Under the agreement, announced yesterday, Irish cement maker CRH will buy some of Holcim and Lafarge’s assets for $7.07 billion. This deal will turn CRH into the world’s third largest building materials supplier, as it includes assets in Europe, Canada, Brazil and the Philippines. This divestment deal was a requirement for Holcim and Lafarge to merge cement companies.

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Irish building materials manufacturer, CRH, has been cleared by the European Commission under the EU Merger Regulation to acquire several Holcim and Lafarge assets. It has been reviewed by the Commission and decided that there would be no cause for competition concerns because there will still be various alternative suppliers in all markets.

The following assets will 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
  • Slovakia: Holcim’s assets
  • United Kingdom: Lafarge Tarmac assets with the exception of its Cauldon and Cookstown plants and certain associated assets.

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The Financial Times’s Sarah Gordon and Robert Armstrong discuss what went wrong with the planned Holcim Lafarge merger, two of the world’s largest cement makers, and whether a deal is still possible. What does all this mean for shareholders?

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