CRH in talks for Lafarge-Holcim £5bn disposals

Aaron Morby 8 years ago
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Dublin based materials firm CRH is one of two major bidders in talks for assets which Lafarge and Holcim must sell ahead of their planned mega-merger.

CRH confirmed it was in talks about the series of planned major disposals, including the Lafarge Tarmac business in the UK.

A spokesman said: “While there can be no certainty that these discussions will result in a transaction, if an acquisition was to proceed, it is likely that it would be funded through a combination of existing cash balances, debt and an equity placing.

“At this stage there can be no certainty that these discussions will lead to any transaction.”

It has also emerged that a consortium led by Blackstone, including includes Cinven and Canadian pension fund, are also looking at a possible major acquisition.

Both are reported to be looking at bids of around £5-£6bn.

CRH, which has the advantage that it can cut costs from overlapping businesses, is said to be interested in acquiring most of the assets being sold.

Lafarge and Holcim received initial clearance from the European Commission late last year for their proposed £30bn mega-merger to create a world cement titan.

Since unveiling plans for the merger in April, the Swiss and French materials groups have developed plans to offload at least £5bn of worldwide assets to win approval from multiple competition authorities.

Holcim and Lafarge will only be permitted to complete the deal once the Commission has approved the buyers.

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