Lafarge about to seek EU approval for merger with Holcim

Lafarge and Holcim are about to request approval from the European Commission for their planned merger, Lafarge chief executive Bruno Lafont told reporters yesterday.

Mr Lafont said talks with Brussels had been “constructive” and the companies were “well on track” to close the deal in the first half of next year.

Lafarge and Holcim unveiled plans in April to create the world’s biggest cement group with $44 billion in yearly sales. However, competition watchdogs in 15 countries, as well as the European Commission, are expected to take a hard look at the deal which brings together the world’s top two cement makers.

To appease regulators Lafarge and Holcim have drawn up a list of assets they plan to sell worldwide that accounts for some €3.5 billion of annual sales. – (Reuters)