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February 9, 2023

Lafarge, Holcim agree on merger plan

The world’s two largest cement makers, France’s Lafarge and Switzerland’s Holcim, on Saturday agreed on the terms of a merger that would create a company with a stock market value of around USD 55 billion, French newspaper ‘Le Figaro’ reported on its website. Holcim representatives confirmed the information. The two companies had already issued dual statements on Friday announcing they were in advanced talks to merge, a deal which would help them slash costs, trim debt and better cope with the soaring energy prices and weaker demand that have hurt the sector since the 2008 economic crisis. If successful, the combined entity will be based in Switzerland but will have operational headquarters in both Switzerland and France.

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