European Commission approves Holcim-Cemex deal
By Sarah Ann McCay08 June 2014
Holcim has received approval from the European Commission for its proposed acquisition of Cemex West in Germany.
The approval is one in a series of transactions between Holcim and Cemex in Europe.
In the Czech Republic, local competition authorities cleared the proposed acquisition of Holcim Cesko by Cemex in March this year. Meanwhile, in Spain, Cemex and Holcim propose to combine their operations in cement, ready-mix concrete and aggregates. Holcim would hold a shareholding of 25% of the combined entity. Regulatory approval by the European Commission for the transaction in Spain is still pending.
The Cemex West acquisition will enable Holcim to optimise operations in northwestern Germany, as well as improve service and support to its customers.
The Cemex West deal includes one cement plant, two grinding stations (total cement capacity of 2.5 million tonnes), one slag granulator, 22 aggregates locations and 79 ready-mix concrete plants.
Holcim’s transactions with Cemex are separate from its intention to merge with Lafarge.