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Global: Holcim, Lafarge release more details on divestitures

 |  November 18, 2014

As cement giants Holcim and Lafarge gear up to merge, and as competition regulators throughout the globe review the plan, reports say the companies have revealed more details about their planned divestitures in efforts to secure regulatory clearance.

Swiss-based Holcim said Tuesday that the companies expect to choose buyers for assets they plan to sell by the end of January. The companies added that they are on track to close the merger by the middle of 2015.

Holcim has reportedly received more than 60 potential bids for the assets representing about 12 percent of the companies’ combined revenue. Earlier reports said most of those sales would take place in Europe.

The merger would create the world’s largest cement company with more than $40 billion in annual sales, according to reports.

Full content: Reuters

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