Holcim to offer C$36.50 per share for rest of St Lawrence Cement
Holcim Ltd announced it will make a C$36.50 per share cash offer for all outstanding shares of Canada’s St Lawrence Cement Group Inc (SLC) it does not already own, valuing the total minority share capital at C$571m.
The offer applies for all outstanding SLC class A subordinate voting shares as well as class 1 special shares, Holcim said.
A formal offer has not yet been made to shareholders, it added.
The success of the offer will be conditional on more than 50 pct of class A subordinate voting shares and 66.66 pct of outstanding class 1 special shares being tendered, the company said.
Holcim currently owns 44 pct of SLC’s class A subordinate voting shares and 100 pct of SLC’s class B multiple voting shares, representing approximately 79 per cent of SLC’s total votes.
The proposed acquisition would allow Holcim to further embed SLC into the Holcim Group both commercially and financially.
Published under Cement News
