LafargeHolcim today completed the acquisition of the 50% share in Lafarge Tarmac held by Anglo American for $1,550m.
The move is part of the preliminary steps to implement the disposals required by the European Commission for its approval of the merger to create LafargeHolcim.
This step is required to allow for the full divestment of Lafarge Tarmac, with the exception of the Cauldon and Cookstown plants and certain non-operational properties to CRH as part of the divestment of several assets in Europe, Canada, Brazil and the Philippines.
The divestments of these assets are expected to be completed at the end of July, with the exception of the Philippines, which is expected to be completed in the third quarter of 2015.
The divestment process is being carried out in the framework of the relevant social processes and the ongoing dialogue with the employee representatives’ bodies and has received all relevant regulatory and third party approvals.