Lafarge Tarmac to be sold to CRH
CRH plc enter into binding commitment to acquire assets being disposed by Lafarge and Holcim
AS part of their proposed merger, Lafarge and Holcim have entered exclusive negotiations with CRH regarding the sale of several assets for an enterprise value of €6.5 billion (£4.9 billion).
The assets for sale comprise operations mainly in Europe, Canada, Brazil and the Philippines, including Lafarge Tarmac in the UK (with the exception of Cauldon cement works).
Taken as a whole, the assets being disposed of generated estimated sales of €5.2 billion (£3.9 billion) in 2014, with an estimated operating EBITDA of €744 million (£560 million).
CRH, who have now entered into a binding commitment to acquire the assets, propose to fund the transaction though a combination of €2 billion (£1.5 billion) in cash, new debt and a 9.99% equity placing.
The sale is subject to the successful completion of the Lafarge Holcim merger and regulatory approvals, the closing of which is expected in the first half of 2015.
Posted date : 03-02-2015
- Four new Volvo loading shovels for Hills Quarry Products Ltd
- UK Construction Week 2018
- Hitachi introduce the ZW330-6 wheel loader
- Carrots key to stronger concrete
- New CH800i series cone crushers from Sandvik
- Caterpillar introduce new grapples for bulk material handling
- Hillhead is finally behind us and it was a great outing! A Rock-hard turnout!
- McCloskey International and McCloskey Washing Systems showcase new products at Hillhead
- Powerscreen excel at a sunny Hillhead 2018
- Duo announces merger with Denbow and deal with Doosan