8th Oct 2014 05:41
LONDON (Alliance News) - FTSE 100-listed Irish cement company CRH PLC has teamed with Mexican cement maker Cemex in order to bid for all the assets that Lafarge SA and Holcim Ltd will have to sell in order to secure the approval of European competition authorities for their proposed merger, Reuters reported on Tuesday.
HeidelbergCement AG of Germany and Brazil's Votorantim Cimentos SA also are understood to be considering a joint bid for the assets, according to sources familiar with the matter cited by Reuters.
The groups would be competing with several private equity bidders for the assets, which may fetch anything between EUR4 billion and EUR7 billion, the source said. Lafarge and Holcim announced plans in April to merge to create the world's largest cement group.
http://uk.reuters.com/article/2014/10/07/uk-lafarge-holcim-assets-idUKKCN0HW1U720141007
By Sam Unsted; [email protected]; @SamUAtAlliance
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