By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)- The top two (2) world building materials and cement producers, Holcim and Lafarge on Monday said it has opened its public exchange offer to finalise their planned merger deal.
This is coming on the heels of the clearance from the Autorité des Marchés Financiers (AMF) on May 28, 2015, the public exchange offer for all Lafarge shares will be at an exchange ratio of 9 Holcim shares for 10 Lafarge shares. “Through acceptance of the public exchange offer, Lafarge shareholders will pave the way for the creation of LafargeHolcim. On May 8, 2015, Holcim’s shareholders already approved the merger-related resolutions at an Extraordinary General Meeting,” a joint statement from both cement manufacturers said.
According to LafargeHolcim, the public exchange offer will be open for 25 trading days until July 3, 2015.
“With this public exchange offer, Lafarge and Holcim are implementing the final step of their project to merge the two companies and create the most advanced group in the building materials industry, with a strong balance sheet, and the objective to generate superior value for its shareholders, customers and other stakeholders. The combined Group would employ approximately 115,000 people in 90 countries with net sales of around CHF 33 billion (around EUR 27 billion),” both companies affirmed.
The public exchange offer documents and the related listing of shares to the planned merger expected to close in July 2015 is available on the websites of Holcim (www.holcim.com) and Lafarge (www.lafarge.com).
