Lafarge sets Jan 18 EGM on Orascom, board seats

Lafarge sets Jan 18 EGM on Orascom, board seats
Published: 17 December 2007

Lafarge will hold an extraordinary general meeting (EGM) on January 18 to approve a capital increase that is part of its agreed takeover of Egypt’s  Orascom Cement.  
 
Shareholders will also vote on the nomination of three new board places – two for  Groupe Bruxelles Lambert (GBL), the investment arm of Albert Frere and Paul Desmarais and  Lafarge’s biggest shareholder, and one for Nassef Sawiris, the majority shareholder of  Orascom Construction Industries .  
 
In a statement, Lafarge also said it would recommend the nomination of a third board seat for GBL, and a second seat for OCI founding shareholders at  Lafarge’s annual general meeting in May.