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Global: Bidders emerge for Lafarge/Holcim divestitures

 |  December 17, 2014

Three groups have emerged as the frontrunners expected to acquire the assets being divested by Lafarge and Holcim in order to move forward with their proposed merger, say reports.

According to unnamed sources, the three groups are: Irish cement firm CRH; a group made up of Blackstone, Cinven and Canada-based pension fund CPP; and a group made up of CVC, along with two wealth funds, the Abu Dhabi Investment Authority and Singapore-based GIC.

France-based Lafarge and Switzerland-based Holcim have agreed to divest a combined 12 percent of their revenues to secure clearance from competition authorities for their deal. The European Commission announced its approval earlier this week, though required significant divestitures from the companies. Earlier reports said the cement firms had expected to sell significant assets, most of which would likely occur in Europe.

Unnamed sources say the sales will likely raise $7.5 billion.

Full content: Reuters

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