May 26, 2015 / 6:29 PM / in 3 years

Holcim, Lafarge reach binding agreement with CRH on divestments

May 26 (Reuters) - Cement companies Holcim and Lafarge said on Tuesday that they have reached a binding agreement under which Irish cement maker CRH Plc will buy some of their assets for 6.5 billion euro ($7.07 billion).

The deal, which will transform the Irish company into the world’s third-biggest building materials supplier, was announced in February and includes assets in Europe, Canada, Brazil and the Philippines.

The divestment deal, which was cleared by EU antitrust regulators last month, was a condition for France’s Lafarge and Switzerland’s Holcim to merge.

$1 = 0.9195 euros Reporting by Ankush Sharma in Bengaluru; Editing by Cynthia Osterman

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