Deal will create the worlds biggest cement producer
Frances Larfarge and Switzerlands Holcim have agreed to merge to form the worlds biggest cement producer, with combined sales of 32bn ($44bn).
The new group will have a combined presence in 90 countries. Financial close is expected in the first half of 2015. The transaction is to be structured as a public exchange offer, with an exchange ratio of 1 Holcim share for 1 Lafarge share.
Lafarge has a strong presence in the Middle East and North Africa (Mena) region, particularly in Egypt, where the group has been present since 2008. Lafarge Egypt has about 2,500 employees and is heavily active in the cement, concrete and aggregate sectors.
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