Lafarge and Holcim's €6.5 Billion Asset Sale to CRH

February 3, 2015

Cleary Gottlieb acted as counsel to Lafarge, which as part of its proposed merger with Holcim, announced with Holcim that they entered into exclusive negotiations with CRH regarding the sale of several assets, including operations in Europe, Canada, Brazil and the Philippines. Taken together, the assets to be disposed generated estimated 2014 sales of EUR 5.2 billion, with an estimated 2014 operating EBITDA of EUR 744 million.

The divestment process will be carried out in the framework of the relevant social processes with the employee representatives’ bodies. It will be submitted to the relevant competition authorities and to the shareholders of CRH. The divestments are subject to the completion of the merger, including a successful public exchange offer and approval by Holcim’s shareholders in the second quarter of 2015. The closing of the planned merger is expected in H1 2015. It will create the most advanced group in the industry, operating in 90 countries, with a strong balance sheet, and will generate superior value for its shareholders, customers and other stakeholders.