French government ‘opposed’ to absorption of Lafarge by Holcim

It has been reported that the French government is opposed to any absorption of cement group Lafarge by Swiss group Holcim. This follows news that Holcim is seeking to alter the terms of the equal merger agreement between the two companies. Lafarge has stated that it is willing to revise the terms of the merger ratios but will not accept any change in the governance of the future entity, with the board set to contain seven board members from each company. The French government reported to be cautious about

March 17, 2015 Read time: 2 mins

It has been reported that the French government is opposed to any absorption of cement group 725 Lafarge by Swiss group 680 Holcim.

This follows news that Holcim is seeking to alter the terms of the equal merger agreement between the two companies.

Lafarge has stated that it is willing to revise the terms of the merger ratios but will not accept any change in the governance of the future entity, with the board set to contain seven board members from each company.

The French government reported to be cautious about any change to the agreement, as it is unwilling to see the new entity lose its grounding in France.

Both companies are set to hold EGMs before the end of the first half of 2015 in order to vote on the merger, with a two-thirds majority of shareholders required.

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Lafarge

France/Switzerland: Interview with Lafarge-Holcim executives

In an interview with French publication Le Figaro, Bruno Lafont and Wolfgang Reitzle, respectively the future managing director and president of the entity formed by the merger between French construction materials group Lafarge and Swiss cement group Holcim, have said that the project is on track to be completed during the first half of 2015.
Lafont added that the group is still awaiting approval from competition authorities in other countries, including India, the US and Canada.
In the Le Figaro intervi

March 9, 2015

Holcim responds to Lafarge merger deal renegotiation talk

Swiss cement giant Holcim has responded to widespread speculation within industry and wider business media that the terms of their pending merger with Lafarge may need to be changed due to it out performing the French firm in their latest trading results. Holcim recorded higher net sales and significantly improved operating profit in Q4 2014 ahead of their proposed merger due to be completed in the first half of this year. Although not saying they intend to seek new merger deal terms, a statement released b