French cement giant Lafarge SA and Swiss rival Holcim Ltd. have
agreed to sell several plants, terminals and a quarry to resolve
regulatory competitive concerns over their $25 billion merger, the
Federal Trade Commission said Monday.
The combined company would be the world's largest cement
manufacturer.
European regulators cleared the way for the merger in December,
subject to a series of asset sales.
Under the FTC approval, Lafarge is to sell to Continental Cement
Co. its Davenport cement plant and quarry in Buffalo, Iowa.
It will also sell its cement terminals and other distribution
assets in Minneapolis-St. Paul, Minn.; La Crosse, Wisc.; Memphis,
Tenn.; and Convent and New Orleans, La.
Holcim will sell to Eagle Materials Inc. its Skyway slag cement
plant in Chicago; to Essroc Cement Corp. its slag cement plant in
Camden, N.J. and its terminal near Boston.
Holcim will also sell to Buzzi Unicem USA its cement terminals
in Grandville and Elmira, Mich. and Rock Island, Ill.; and to a
buyer or buyers to be approved by the FTC its Trident, Mont. cement
plant and two related terminals in Alberta, Canada; and its
Mississauga cement plant in Ontario, Canada and related cement
terminals in Duluth, Minn.; Detroit and Dundee, Mich.; Cleveland;
and Buffalo, N.Y.
Lafarge and Holcim's shareholders are scheduled to vote on the
merger on May 8.
Write to Maria Armental at maria.armental@wsj.com
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