LafargeHolcim acquire Anglo American’s 50% interest in Lafarge Tarmac as part of divestment process
AS part of the preliminary steps to implement the disposals required by the European Commission for its approval of the merger to create LafargeHolcim, the newly formed Group today completed the acquisition of the 50% share in Lafarge Tarmac held by Anglo American for £992 million.
This step is required to allow for the full divestment of Lafarge Tarmac, with the exception of the Cauldon and Cookstown plants and certain non-operational properties, to CRH as part of the divestment of several assets in Europe, Canada, Brazil and the Philippines.
Prior to the full divestment of Lafarge Tarmac to CRH, the Cauldon and Cookstown plants will become part of Aggregate Industries, now a subsidiary company of LafargeHolcim.
All the divestments are expected to be completed at the end of July, with the exception of the Philippines, which is due to complete in the third quarter of 2015.
The divestment process is being carried out in the framework of the relevant social processes and the ongoing dialogue with the employee representatives’ bodies, and has received all relevant regulatory and third party approvals.