Lafarge merges with Holcim
Lafarge, operates Lafarge Cement Zimbabwe, formerly known as Circle Cement. The company is the second largest cement producer in the country and is listed on the Zimbabwe Stock Exchange.
The merger has resulted in the creation of a new giant in the building materials industry, and from yesterday will be called LafargeHolcim.
The new company is expected to have a combined revenue of about $40 billion, operating in 90 countries, Zimbabwe included.
Lafarge Cement Zimbabwe spokesperson,Precious Chitapi, could not devulge details when contacted for a comment but sources with intimate knowledge of the developments at the company confirmed that the newly created LafargeHolcim was officially launched yesterday at Manresa Club in Mabvuku. The group is expected to release a press statement today.
The merger was completed last week with the success of the public exchange offer.
Holcim’s public exchange offer for Lafarge succeeded with 87.46 percent of Lafarge’s share capital, representing 81,47 percent of voting rights, offered by shareholders, fulfilling the conditions for the merger to go ahead.
Its shares started trading on the SIX Swiss Exchange and the Euronext in Paris on Tuesday. -FinX