ZURICH, Aug 4 (Reuters) - Holcim Ltd and Lafarge <SA LAFP.PA> gave details on Monday of the activities they plan to offload in Brazil in order to clinch antitrust approval for a merger to create the world’s largest cement maker.
The Swiss and French firms propose to sell Holcim and Lafarge assets including including 3 integrated cement plants and 2 grinding stations as well as one ready-mix plant in southeastern Brazil.
“These proposed divestments have been presented to (Brazilian antitrust watchdog) CADE in the context of pre-filing negotiations and will now be subject to review and further discussion until a final decision is reached with the authority,” the two said in a statement.
Holcim and Lafarge need to shed assets generating about 5 billion euros ($6.71 billion) in annual revenue to help persuade competition watchdogs to back the proposed deal, which was unveiled in April and would create a combined group with $44 billion in yearly sales. ($1 = 0.7457 Euros) (Reporting By Katharina Bart, editing by Tom Miles)