Deal will create largest global player in the cement, concrete and aggregates markets
Aggregates giants Lafarge and Holcim have agreed to merge to create the largest global player in the cement, concrete and aggregates markets, with a combined turnover of £27bn.
Swiss-based Holcim has agreed to purchase Lafarge, with each Lafarge shareholder set to receive one Holcim share for every Lafarge share they own.
The two firms said they would sell some assets to ease competition concerns.
Rolf Soiron, current chairman of Holcim, said: “This proposed merger is a once in a lifetime opportunity to deliver substantially better value to customers with more innovation, a wider range of products and solutions and more sustainability and enhanced returns to shareholders.”
Bruno Lafont, chairman and cheif executive of Lafarge, added: “I am very proud to propose today this new chapter in Lafarge’s long industrial history which is the fruit of the commitment of our people over the years.
“By combining Holcim’s experienced teams, complementary geographies and innovative expertise with ours, we propose to set up the most advanced group in the construction industry, for the benefit of our clients, our employees and our shareholders.”