Lafarge announces it has received on March 15, 2015 a letter from the Chairman of the Board of Directors of Holcim indicating the decision of the Board of Holcim not to pursue the execution of the Combination Agreement under the terms approved by the Boards of Directors of Lafarge and Holcim and concluded on July 7, 2014 and challenging the financial terms and governance structure of the proposed merger of equals.
Lafarge's Board of Directors remains committed to the project that it intends to see implemented. The Board said it is willing to explore the possibility of a revision of the parity, in line with recent market conditions, but it will not accept any other modification of the terms of the existing agreements.
NOTES TO EDITORS
A world leader in building materials, Lafarge employs 63,000 people in 61 countries, and posted sales of €12.8 billion in 2014. As a top-ranking player in its Cement, Aggregates and Concrete businesses, it contributes to the construction of cities around the world, through its innovative solutions providing them with more housing and making them more compact, more durable, more beautiful, and better connected. With the world's leading building materials research facility, Lafarge places innovation at the heart of its priorities in order to contribute to more sustainable construction and to better serve architectural creativity.