Holcim has 87.5% of Lafarge capital after tender

Swiss cement maker Holcim will hold 87.46 percent of the share capital of French merger partner Lafarge and at least 83.94 percent of its voting rights under final results of an exchange offer, Holcim said on Thursday.

That was in line with preliminary results released by France’s AMF markets watchdog on Wednesday.

“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,” Holcim added in a statement.

The two companies unveiled a “merger of equals” last April to create the world’s biggest cement maker with $44 billion in annual sales, but terms were revised in March after shareholders in the Swiss company complained they were getting a raw deal.

Source

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