Lafarge and Holcim have received final approval for their proposed merger from competition authorities in the United States and Canada. All competition approvals necessary for closing the transaction have now been obtained ahead of the expected closing in July 2015.
Following the regulatory assessment in all key jurisdictions, Holcim and Lafarge can now present a final list of divestments to satisfy regulatory requirements.
The two companies are divesting the following assets in the United States:
- Lafarge’s 1.1MT Davenport cement plant (Iowa) and 7 terminals along the Mississippi River (Buyer: Summit Materials)
- 3 Holcim terminals in Michigan and Illinois (Buyer: Buzzi Unicem)
- Holcim’s Skyway 600kt slag grinding station in Illinois (Buyer: Eagle Materials)
- Holcim’s Camden 700kt slag grinding station in New Jersey, along with a terminal in Massachusetts (Buyer: Essroc/Italcementi)
- Holcim’s Trident cement plant (Montana) and 5 terminals in the Great Lakes Region (Buyer: CRH presented as buyer)
The two companies are divesting the following European assets to CRH:
- France: all of Holcim’s assets, except for its Altkirch cement plant and aggregates and ready-mix sites in the Haut-Rhin region, and a grinding station of Lafarge in Saint-Nazaire; Lafarge’s assets on Reunion island, except for its shareholding in Ciments de Bourbon
- Germany: Lafarge’s assets
- Hungary: Holcim’s operating assets
- Romania: Lafarge’s assets
- Serbia: Holcim’s assets
- Slovakia: Holcim’s assets
- United Kingdom: Lafarge Tarmac assets with the exception of its Cauldon and Cookstown plants and certain associated assets
The two companies are divesting the following assets in the rest of the world:
- Canada: Holcim’s assets (Buyer: CRH presented as buyer)
- Brazil: assets from both Holcim and Lafarge, which include three integrated cement plants and two grinding stations (with a total of 3.6 Mt annual cement capacity), as well as some ready-mix plants located in the Southeastern region of Brazil. (Buyer: CRH)
- India: Lafarge’s Sonadih cement plant and Jojobera grinding station (with a total of approximately 5 Mt annual cement capacity) in Eastern India. (Buyer: divestment process ongoing)
- Mauritius: Holcim’s assets (Buyer: to be determined)
- The Philippines: the shares of Lafarge Republic, Inc. (LRI) from, and other specific assets of, the major shareholders namely Lafarge Holdings Philippines, Inc., South Western Cement Ventures, Calumboyan Holdings, Inc., and Round Royal, Inc.), except LRI's (i) investment in Lafarge Iligan, Inc., Lafarge Mindanao, Inc. and Lafarge Republic Aggregates, Inc., (ii) Star Terminal at the Harbour Center, Manila, and (iii) other related assets. (Buyer: CRH)
These divestments remain subject to the completion of the merger, including a successful public exchange offering to Lafarge’s shareholders and approval by Holcim’s shareholders.
