UPDATE 2-Lafarge, Holcim lay out asset sales needed for merger

lunes 7 de julio de 2014 02:30 GYT
 

* Two largest cement makers seek regulatory approval for tie-up

* France, Germany, Britain, Eastern Europe to see divestments

* Deal still on track for H1 2015 closing (Adds call details)

By Gilles Guillaume

PARIS, July 7 (Reuters) - Cement makers Lafarge and Holcim on Monday proposed a series of asset sales across Europe, including all of Holcim's French activities and Lafarge's German and Romanian ones, as they seek approval from regulators for their merger.

The two companies need to shed around 5 billion euros ($6.81 billion) in assets to help persuade competition regulators to back the proposed merger which was unveiled in April and would create the world's biggest cement maker with $44 billion in annual sales.

The companies said they would seek buyers for operations in Austria, Hungary, Romania, Serbia, Britain, Canada, the Philippines, Mauritius and Brazil, among others. The proposed divestments represent about 10 percent of Holcim and Lafarge's global sales.

Holcim Chief Executive Bernard Fontana said the companies had already received about 50 expressions of interest from potential buyers and would soon begin negotiations.

Competition regulators in some 15 countries, as well as the European Commission, are expected to take a hard look at the Holcim-Lafarge deal, which brings together the two biggest cement makers globally.   Continuación...