Economy & Market
Lafarge, Holcim to sell assets to CRH
As part of their proposed merger, Lafarge and Holcim will sell assets worth -C6.5 billion, located in Europe, Canada, Brazil and Philippines, to CRH. It was mandatory for these two firms to shed some assets to comply with the regulatory requirements. Holcim, Lafarge and CRH have presence in India. However, they are unlikely to sell any assets here. The two firm said divestments are subject to completion of merger, including a successful public exchange offering and approval by Holcim´s shareholders in second quarter of 2015. The merger would create the most advanced group in the industry, operating in 90 countries, with a combined sales of $44 billion.