CRH and Blackstone compete for Holcim, Lafarge assets
Sources say Irish cement maker CRH and a consortium led by Blackstone are battling for assets which Lafarge and Holcim must sell before their planned merger, says an article on Reuters.
According to the article, a source says CRH was seen as the front runner after putting in a bid of almost 6 billion euros ($6.8 billion), while the Blackstone consortium, which includes Cinven and Canadian pension fund CPP, put in a bid of 5.5 million euros.
CRH confirmed discussions with Lafarge and Holcim and said the potential acquisition would be funded by a combination of existing cash balances, debt and equity placing, the article continues.
In addition, bankers said if the Blackstone consortium won the assets, it would expect a debt financing of up to 4.5 billion euros.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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