By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)- Holcim Ltd, one of the world’s leading suppliers of cement and aggregates said on Friday it will commence trading its shares on Euronext on July 9, 2015, the firm said in a public exchange offer for the shares of Lafarge initiated by it.
The top cement producer said that this information is related to in particular the legal, financial and accounting characteristics of Holcim and of the prospectus relating to admission of the existing Holcim shares and, “as the case may be, Holcim Limited shares to be issued in connection with the public exchange offer, to trading on the regulated market of Euronext Paris,” the company added.
According to the cement maker, terms of offer for trading on its shares on Euronext Paris will be on the basis of nine (9) newly issued Holcim shares for 10 Lafarge shares for a 25 days trading period.
”If the conditions provided in article L. 433-4 III of the monetary and financial code and articles 237-14 et seq. of the Autorité des marches financiers (AMF’s) general regulations are met at the end of the public exchange offer acceptance period, Holcim Ltd reserves the rights to request the AMF to implement, within a three-month period after the end of this public exchange offer acceptance period, a squeeze-out procedure to effect the transfer to Holcim Ltd of all the Lafarge S.A. shares not tendered to the public exchange offer. The implementation of such squeeze-out will be subject to examination by the AMF,” Holcim affirmed.
The public exchange offer is presented by Societe Generale, corporate and investment banking firm and UBS.
This is coming on the heels of a merger between Holcim and Lafarge world’s top two (2) cement producers whose divestments remain subject to the completion of the merger including the acceptance of Holcim’s public exchange offer by the shareholders of Lafarge. The merger is expected to close in July 2015.
