CRH and Blackstone compete for Holcim, Lafarge assets

Allison Kral Published Jan 28, 2015

Sources say Irish cement maker CRH and a consortium led by Blackstone are battling for assets which Lafarge and Holcim must sell before their planned merger, says an article on Reuters.

According to the article, a source says CRH was seen as the front runner after putting in a bid of almost 6 billion euros ($6.8 billion), while the Blackstone consortium, which includes Cinven and Canadian pension fund CPP, put in a bid of 5.5 million euros.

CRH confirmed discussions with Lafarge and Holcim and said the potential acquisition would be funded by a combination of existing cash balances, debt and equity placing, the article continues.

In addition, bankers said if the Blackstone consortium won the assets, it would expect a debt financing of up to 4.5 billion euros.

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News acquisitions assets bids CRH Holcim Lafarge merger purchase Reuters

Allison Kral

Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.