Industry majors reportedly teaming up for LH asset disposals

CRH is reportedly teaming up with Cemex to bid for all the assets that Lafarge SA and Holcim Ltd will have to sell to secure the approval of European competition authorities for their proposed merger, Reuters reported on Tuesday.

HeidelbergCement AG of Germany and Brazil's Votorantim Cimentos SA also are understood to be considering a joint bid for the assets, according to sources familiar with the matter cited by Reuters.

The groups would be competing with several private equity bidders for the assets, which may fetch anything between EUR4bn and EUR7bn, the source said.