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CVC in talks with Singapore's GIC over Holcim-Lafarge assets - Sky News
August 12, 2014 / 12:35 PM / 3 years ago

CVC in talks with Singapore's GIC over Holcim-Lafarge assets - Sky News

LONDON (Reuters) - Private equity firm CVC [CVC.UL] is in talks with Singapore’s Government Investment Corporation [GIC.UL] over possible joint bids for assets of cement firms Holcim HOLN.VX and Lafarge LAFP.PA, Sky News reported on Tuesday, without naming its sources.

Private equity funds have been queuing up to buy the assets since Holcim of Switzerland and France’s Lafarge announced a merger in April that would create a group with $44 billion in annual sales.

The companies have received over 100 expressions of interest for assets they must sell to win regulatory clearance for the merger, expected to be completed in the first half of 2015.

Those assets are expected to fetch up to 6 billion euros ($8 billion), Holcim Chief Executive Bernard Fontana said in July.

The assets are in Brazil, Hungary, Britain and Romania among other countries.

Competition regulators in around 15 countries are expected to look at the deal.

CVC declined to comment. GIC was not immediately available for comment.

($1 = 0.7494 Euros)

Reporting by Freya Berry in London; additional reporting by Saeed Azhar in Singapore; editing by Tom Pfeiffer

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