Holcim launches exchange offer for Lafarge shares

Holcim said Monday it has launched the public exchange offer for all the shares of Lafarge, marking the final stage of the merger of the two cement majors.

Shareholders in Lafarge are being asked to offer their shares at an exchange ratio of nine Holcim shares for 10 Lafarge shares.

Their acceptance of the exchange is the final stage to create a new company. Holcim shareholders have already approved the tie up.

The combined LafargeHolcim group would employ approximately 115,000 people in 90 countries with net sales of around EUR27bn. The planned merger is expected to close in July 2015.