LafargeHolcim buys out 50 percent interest in LafargeTarmac as part of divestment process
As part of the preliminary steps to implement the disposals required by the European Commission for its approval of the merger to create LafargeHolcim and as previously announced, the Group today completed the acquisition of the 50 percent share in LafargeTarmac held by Anglo American for GBP 992 million (incl. changes in working capital).
This step is required to allow for the full divestment of LafargeTarmac, with the exception of the Cauldon and Cookstown plants and certain non-operational properties to CRH as part of the divestment of several assets in Europe, Canada, Brazil and the Philippines.
The divestments of these assets are expected to be completed at the end of July, with the exception of the Philippines, which is expected to be completed in the third quarter of 2015.
The divestment process is being carried out in the framework of the relevant social processes and the ongoing dialogue with the employee representatives' bodies and has received all relevant regulatory and third party approvals.
With a well-balanced presence in 90 countries and a focus on Cement, Aggregates and Concrete, LafargeHolcim (SIX Swiss Exchange, Euronext Paris: LHN) is the world leader in the building materials industry. The Group has 115,000 employees around the world and combined net sales of CHF 33 billion (EUR 27 billion) in 2014. LafargeHolcim is the industry benchmark in R&D and serves from the individual homebuilder to the largest and most complex project with the widest range of value-adding products, innovative services and comprehensive building solutions. With a commitment to drive sustainable solutions for better building and infrastructure and to contribute to a higher quality of life, the Group is best positioned to meet the challenges of increasing urbanization.
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