By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)- Holcim Ltd, one of the world’s leading suppliers of cement and aggregates said on Friday that with the successful completion of its public exchange offer and the expected closing of the merger with Lafarge, Andreas Leu and Bernard Terver will step down from the Holcim executive committee with completion of the merger.
Holcim in a statement said Leu, currently responsible for the Americas, will leave the Group with effect from August 1, 2015. While Terver currently responsible for Africa Middle East as well as South Asia will assume the position as Head of India for LafargeHolcim from the date of the closure of the merger.
“In this capacity he will continue his mandates in the boards of Ambuja Cements and ACC Limited in India,” the cement producer affirmed.
Similarly, Bernard Fontana steps down as CEO of Holcim following the successful public exchange offer and the expected closing of the merger with Lafarge.
“Bernard Fontana will step down from his position as CEO of Holcim Ltd with the completion of the merger. He will also resign from all mandates in all Holcim Group entities,” Holcim said.
Bernard Fontana said: “It has been a pleasure and honor to work with remarkable and passionate people throughout the past years at Holcim. I wish the new company LafargeHolcim and the entire team all the very best for the future.”
Holcim and Lafarge had earlier announced the leadership of LafargeHolcim with Wolfgang Reitzle as statutory chairman of the board of directors and
Eric Olsen as CEO. “The mandate of the new board of directors and executive committee will be effective from the date of the completion of the merger,” the cement maker added.
Holcim said on Thursday Autorité des marchés financiers (AMF) has released the final results of the public exchange offer it initiated for the shares of Lafarge S.A, following the settlement-delivery of the offer expected to occur on July 10, 2015.
Holcim said it will hold 252,230,673 Lafarge S.A. shares representing 87.46 percent of the share capital and at least 83.94 percent of the voting rights¹ of Lafarge S.A. based on the total number of shares outstanding as of July 8, 2015.
The company said in accordance with the AMF general regulations, the offer will be re-opened during at least 10 trading days according to a timetable that will be published by the AMF.
It disclosed that based on the total number of shares outstanding as of July 8, 2015: 288,411,188 shares representing no more than 300,493,937 voting rights. “The number of voting rights is an estimate taking only partially into account the loss of double voting rights attached to tendered shares,” it added.
