Thursday 29 September 2016

CRH completes final stage of €6.5bn Lafarge-Holcim acquisition

Published 15/09/2015 | 08:07

A German factory worker uses a control panel to disperse premixed concrete, manufactured by Holcim. CRH has acquired combined assets from the Swiss company and French firm Lafarge
A German factory worker uses a control panel to disperse premixed concrete, manufactured by Holcim. CRH has acquired combined assets from the Swiss company and French firm Lafarge

Ireland's biggest company CRH has completed the final stage of its €6.5bn acquisition of assets from rival companies Holcim and Lafarge.

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The majority of the transaction was completed in August, with the exception of operations in the Philippines.

A statement from CRH this morning said: "CRH is pleased to announce that the Philippines element of the transaction has now also been completed."

The deal for CRH to acquire the assets of Switzerland-based Holcim and French firm Lafarge came about after the two companies announced that they were planning to merge, creating the world's biggest building materials business.

The companies had to agree to sell off a major chunk of their assets for the deal to get past competition authorities.

The merger was successfully earlier this year, with the combined LafargeHolcim debuting on the Swiss and Paris stock exchanges with a market capitalisation of just under €40bn. The merged entity plans to complete the integration of the two companies by the end of next year.

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