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EU: Rumors of Lafarge/Holcim clearance confirmed via Twitter

 |  December 16, 2014

Rumors were confirmed this week that the European Commission would approve of the planned merger between Lafarge and Holcim, a deal that would create the world’s leading cement firm.

The $43 billion merger between the Swiss and French cement firms was approved by EU authorities with a slew of concessions, though forced divestitures were expected for the deal.

European competition chief Margrethe Vestager announced the merger clearance via Twitter late Monday, stating “Acquisition of Lafarge by Holcim is subject to conditions. The merger can proceed.”

She added that the deal would be “good for growth.”

Lafarge and Holcim had already planned to sell assets throughout Europe; the Commission will require that Lafarge divest its operations in Germany, Romania and the UK.

The Commission will now need to approve of the buyers of the divestitures before the deal can be consummated, reports say.

Full content: Marketwatch

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