Cement merger on the cards?

Cement merger on the cards?
Published: 21 May 2004

The Competition Tribunal is expected to hear two large mergers next week between three cement manufacturers -- Alpha,  PCC and Lafarge -- and a proposed transaction involving investment holding company Venfin Limited and development and design company Intervid Limited. According to the tribunal, Alpha is acquiring the two-thirds of the shares in Slagment that it does not own from PPC and Lafarge. Slagment manufactures ground slag, which is used in the cement industry. Slagment is a joint venture company between the three cement manufacturers.
The Competition Commission, after an investigation, said it is of the view that the transaction will not substantially prevent or lessen competition and has referred the case to the tribunal.