LafargeHolcim Bangladesh amalgamates subsidiary

LafargeHolcim Bangladesh Ltd (LHBL) informed Dhaka Stock Exchange on 2 December that the Board of Directors has decided to amalgamate of the company with its subsidiary Holcim Cement (Bangladesh) Ltd (HCBL).

The amalgamation is subject to requisite approval of the banks and other creditors to the company, approval of the shareholders and finally, sanction of the Honourable High Court Division of the Supreme Court of Bangladesh.

LHBL has acquired 100 per cent shares of HCBL for a consideration of BDT5,047,820. The transfer of shares of Holcim Cement Bangladesh Ltd in the name of the company was completed on 7 January 2018. Accordingly, HCBL has become 100 per cent owned subsidiary of the company. With the acquisition of HBL, the cement production capacity of LHBL has increased from ~1.4Mta to ~ 4.2Mta in Bangladesh.