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EU: EC to clear Holcim’s Cemex deal, but no word on Lafarge merger yet

By  |  June 4, 2014
EU: EC to clear Holcim’s Cemex deal, but no word on Lafarge merger yet

The European Commission is reportedly set to unconditionally approve of cement giant Holcim’s acquisition of Mexico-based rival Cemex in Germany, but the Commission has not yet been notified of Cemex’s proposed merger with another rival, Lafarge.

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    Sources said the Commission is set to approve of Switzerland-based Holcim’s Germany acquisition without concessions as the companies have reportedly agreed to give Cemex certain assets in Spain. EU regulators are currently investigating the Spanish aspect deal.

    The news of impending approval for Holcim coincides with reports that the company has yet to notify the Commission about its planned merger with France’s Lafarge.

    The $40 billion merger hit a new turn Wednesday, according to unnamed sources, as bidders for Holcim and Lafarge divestitures emerged. CC Capital Partners and KKR are reportedly among the interested companies looking to snag up assets to be sold by the merging companies to secure EU approval.

    Full content: Reuters and Bloomberg

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