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Multinational: Cement rivals eye assets ahead of Holcim/Lafarge merger

By  |  April 16, 2014

Rivals of top cement companies Holcim and Lafarge are already eyeing their assets expected to be divested as the companies merge, say reports.

Companies in Turkey are reportedly set on purchasing some assets, including army pension dfund Oyak, which said it has $3 billion in cash it would use for such acquisitions.

Oyak owns five cement companies in the company, say reports.

Also in Turkey, Limak Holding is pursuing the top position in the nation’s cement market through possible acquisitions following the merger.

The reported plans follow the acquisition of Lafarge and Holcim’s French Guiana assets, acquired by Colombia’s top cement company Argos in a $69 million deal.

Lafarge and Holcim announced plans to merge and create the world’s largest cement company that will operate in 90 countries. The two struck a deal for $44 billion.

Full Content: Reuters

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