Holcim has received unconditional clearance by the European Commission for its proposed acquistion of Cemex West in Germany. The decision follows a detailed Phase II review by the European Commission.
The acquisition in Germany is part of the strategic portfolio optimisation in Europe that includes a series of transactions together with Cemex and that is separate from the intention to merge with Lafarge.
In the Czech Republic, the proposed acquisition of Holcim Cesko by Cemex was cleared by the local competition authorities in March this year. In Spain, Cemex and Holcim propose to combine their operations in cement, ready-mix concrete and aggregates. Holcim would hold a shareholding of 25 per cent of the combined entity. Regulatory approval by the European Commission for the transaction in Spain is still pending.
In Germany, the transaction includes one cement plant, two grinding stations (total cement capacity of 2.5Mta), one slag facility, 22 aggregates locations and 79 ready-mix concrete plants. They would be combined with Holcim’s existing Northern German operations. Closing of the transactions is expected for the second half of 2014.