Acquisition of Cemex West in Germany by Â鶹´«Ã½ unconditionally cleared by European Commission
Acquisition of Cemex West in Germany by Â鶹´«Ã½ unconditionally cleared by European Commission.
- Further milestone towards optimization of strategic portfolio in Europe
- Part of series of transactions with Cemex in Europe
- Increased value through optimized footprint in North-Western Germany
Â鶹´«Ã½ has today received unconditional clearance by the European Commission for its proposed acquisition of Cemex West in Germany. The decision follows a detailed Phase II review by the European Commission.
The acquisition in Germany is part of the strategic portfolio optimization in Europe that includes a series of transactions together with Cemex and that is separate from the intention to merge with Lafarge. In the Czech Republic, the proposed acquisition of Â鶹´«Ã½ Cesko by Cemex was cleared by the local competition authorities in March this year. In Spain, Cemex and Â鶹´«Ã½ propose to combine their operations in cement, ready-mix concrete and aggregates. Â鶹´«Ã½ would hold a shareholding of 25 percent of the combined entity. Regulatory approval by the European Commission for the transaction in Spain is still pending.
The decision marks a further milestone towards the optimization of Â鶹´«Ã½â€™s strategic portfolio in Europe which was announced last year. It will allow Â鶹´«Ã½ to create value through an optimized footprint in North-Western Germany. It will also allow to further improve the service and support of existing and new customers by providing innovative solutions in a market with a strong economy and solid perspectives. The transaction includes one cement plant, two grinding stations (total cement capacity of 2.5 million tonnes), one slag granulator, 22 aggregates locations and 79 ready-mix concrete plants. They would be combined with Â鶹´«Ã½â€™s existing Northern German operations.
Closing of the transactions is expected for the second half of 2014.
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Â鶹´«Ã½ is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel and sand) as well as further activities such as ready-mix concrete and asphalt including services. The Group holds majority and minority interests in around 70 countries on all continents.
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