Lafarge and Holcim have received clearance from the European Commission (EC) for their proposed tie-up, marking a key milestone in the merger process. The decision is conditional upon the divestment of select Lafarge and Holcim operations in Europe which were largely in line with previous company guidance with the exception of a slight change in France.

"We are very pleased with the positive decision of the European Commission. It also reflects the quality of the preparatory work performed by both teams so far in creating the most advanced company in our industry. With this decision, we remain firmly on track for a closing in the first half of 2015."; comment Professor Dr Wolfgang Reitzle, designated Chairman of the Board of Directors and Bruno Lafont, designated CEO of the future combined company.

The two companies are proposing the following disposals in Europe:

• France: in metropolitan France, all of Holcim’s assets, except for its Altkirch cement plant and aggregates and ready-mix sites in the Haut-Rhin region, and a grinding station of Lafarge in Saint-Nazaire; Lafarge’s assets on Reunion island, except for its shareholding in Ciments de Bourbon
• Germany: Lafarge’s assets
• Hungary: Holcim’s operating assets
• Romania: Lafarge’s assets
• Serbia: Holcim’s assets
• Slovakia: Holcim’s assets
• UK: Lafarge Tarmac assets with the exception of its Cauldon plant and certain associated assets

Lafarge and Holcim have said they are actively pursuing negotiations for the sale of these assets with potential buyers, who will have to be pre-approved by the EC. The divestments remain subject to the completion of the merger, including a successful public exchange offering and approval by Holcim’s shareholders in the second quarter of 2015.

In the remaining jurisdictions where regulatory clearance is still pending, the companies have said that they are continuing to cooperate with the relevant authorities to satisfy regulatory requirements.