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LafargeHolcim: proposed Brazilian divestments

Holcim and Lafarge announce details of proposed asset disposals in Brazil as part of planned merger

LAFARGE and Holcim have announced further details on their proposal for comprehensive divestments in Brazil, as part of their planned merger of equals to create LafargeHolcim.

As announced on 7 July 2014, and to anticipate potential competition authorities’ requirements, the joint Divestment Committee has agreed to propose to Brazilian competition authority CADE (Conselho Administrativo de Defesa Econômica) a package of high-quality assets from both Holcim and Lafarge, which include three integrated cement plants and two grinding stations (with a total of 3.6 million tonnes annual cement capacity), as well as one ready-mixed concrete plant, all located in the south-eastern region of Brazil.

The proposed assets for disposal include: Lafarge’s Matozinhos and Arcos Jazida cement plants and their Cidade and Santa Luzia cement grinding stations; and Holcim’s Cantagalo cement plant and Pouso Alegre ready-mixed concrete plant.

Brazil is an important market for the future LafargeHolcim Group and the company will remain committed to the country serving customers from a balanced network in cement, aggregates, and ready-mixed concrete.

The proposed divestments have been presented to 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 divestment process will be carried out in the framework of the relevant social processes and ongoing dialogue with the employee representatives’ bodies and will be conducted in parallel to discussions with the competition authorities and potential buyers.

The divestment process will be completed subject to the closing of the merger between Holcim and Lafarge. As announced previously, the closing of the planned merger is expected in first half of 2015.

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