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Ireland: CRH shareholders approve €6.5 billion deal as Holcim-Lafarge talks stall

By  |  March 19, 2015

Building materials group CRH is working on the basis that the troubled merger of industry giants Lafarge and Holcim will happen, its CEO said as shareholders approved asset purchases that depend on the deal going ahead.

The Irish-based group has agreed to buy a number of mostly European assets from Lafarge and Holcim for €6.5 billion so the French and Swiss firms can get competition clearance for their plan to create the cement industry’s biggest company.

“At this moment in time, we’re working forward on the basis that the deal will close, the merger will happen,” CRH CEO Albert Manifold said after an EGM today.

CRH shareholders voted in favour of the €6.5 billion acquisition which would make it the world’s third-biggest building materials supplier.

 

Full Content: Reuters

 

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