By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)- Top two (2) world Cement producers, Lafarge and Holcim said last Friday they have received approval from the European Commission (EC) for CRH as a suitable purchaser of the assets to be divested by both companies in the EU.

In the same vein, CRH has also received from the EC the clearance for the acquisition of these assets according to a statement from both cement producers.

“These divestments remain subject to the completion of the merger, including a successful public exchange offering to Lafarge’s shareholders and approval by Holcim’s shareholders,” the joint statement added.

It said the divestment process will be carried out in the framework of the relevant social processes and the ongoing dialogue with the employee representatives’ bodies.

The top two (2) world Cement producers say the approvals are another important step on the way to creating the most advanced company in the building materials industry.

The assets being divested in the EU to CRH include in metropolitan France, all of Holcim’s assets, except for its Altkirch cement plant and aggregates and ready-mix sites in the Haut-Rhin region, and a grinding station of Lafarge in Saint-Nazaire; Lafarge’s assets on Reunion island, except for its shareholding in Ciments de Bourbon  Lafarge’s German assets and Holcim’s operating assets in Hungary.

Others are Lafarge’s assets in Romania, Holcim’s assets in Slovakia and Lafarge Tarmac assets with the exception of its Cauldon and Cookstown plants and certain associated assets in the United Kingdom (UK).