The assets set to be snapped up by CRH include operations mainly in Europe, Canada, Brazil and the Philippines
Taken together, the assets being disposed under the terms of today’s announcement generated estimated 2014 sales of €5.2 billion, with an estimated 2014 operating EBITDA of €744 million.
"The projected transaction is a key step towards the creation of LafargeHolcim and the value offered reflects the strong quality of the selected assets. This successful outcome demonstrates the quality of the collaborative work undertaken by Holcim and Lafarge teams. With this announcement, we remain firmly on track to complete our proposed merger in the first half of 2015", said Wolfgang Reitzle, designated chairman of the board of directors of LafargeHolcim and Bruno Lafont, designated CEO of the future combined company.
The divestment process will be carried out in the framework of the relevant social processes and the ongoing dialogue with the employee representatives’ bodies. It will be submitted to the relevant Competition authorities and to the shareholders of CRH. The divestments are subject to the completion of the merger, including a successful public exchange offering and approval by Holcim’s shareholders in the second quarter of 2015.
The closing of the planned merger, which will create the world’s single largest cement and crushed rock company with annual revenues of around €40 billion, is expected in H1 2015. It will create the most advanced group in the industry, operating in 90 countries, with a strong balance sheet, and will generate superior value for its shareholders, customers and other stakeholders.
