Belgian holding company Groupe Bruxelles Lambert (GBL) now holds over 10 per cent of Lafarge , according to a statement from Euronext Brussels on Monday.
GBL, owned by Belgian billionaire Albert Frere, previously had an 8.1 percent holding in the world’s largest cement producer. It reaffirmed it could make further changes in its holding.
"In its statement of intent, GBL mentions that it reserves the right to have its shareholding evolve," said the statement.
GBL said it was not seeking Lafarge board representation immediately., adding that Lafarge management knew that it was building up its position in the group.
A Lafarge spokeswoman said Frere was a "discriminating investor and as he is increasing his stake that would indicate that he sees potential for appreciation of the share price".