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Lafarge and Holcim announce merger of equals


Monday, 7 Apr 2014 01:58am EDT 

Lafarge SA:Announces together with Holcim intention to combine two companies through merger of equals.Intention unanimously approved by respective Board of Directors and fully supported by core shareholders of both companies.Lafarge and Holcim pro forma combined sales amount to about 39 bln Swiss francs / 32 bln euros and EBITDA to about 8 bln Swiss francs / 6.5 bln euros.Lafarge and Holcim to occupy complementary positions after strategic optimization of portfolio through pro-active divestment process, in anticipation of regulatory requirements.LafargeHolcim to be listed on SIX in Zurich and Euronext Paris and to continue being domiciled in Switzerland.LafargeHolcim to operate under local governance rules with board composed with equal numbers of Lafarge and Holcim directors and through efficient distribution of central corporate functions in France and Switzerland.Executive Committee to be formed from both Lafarge and Holcim management.Proposed combination to be structured as public offer filed by Holcim for all outstanding shares of Lafarge on basis of 1 for 1 exchange ratio with agreement to have equal dividends on per share basis between announcement and completion.Proposed combination conditional upon, among other things, execution of definitive documentation, approval of shareholders of Holcim and obtaining required regulatory and other customary authorizations.Completion expected by end of H1 2015 subject to obtaining regulatory approvals. 

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