Lafarge and Holcim set to receive merger approval

Lafarge and Holcim are set to receive the European Union’s approval for their merger deal to create the world’s largest cement maker, says an article on Reuters.

According to the article, the two companies have already offered to sell business worth around 12 percent of their combined revenues. However, they might have to sell one or two more assets to ease EU competition concerns. The assets are to be sold off in France, Germany, Hungary, Romania, Serbia, Slovakia, the United Kingdom, Canada, Brazil, the Philippines and Mauritius.

The European Commission has set today as the deadline for the final decision, and eight regulators, including Russia, Turkey and South Africa, have already approved the deal.

According to Reuters, last month Holcim said it had received more than 60 bids from industry interests and private equity firms for the assets.