Holcim Ltd (SIX: HOLN) and Lafarge SA (Euronext: LG) have announced the sale of several assets to CRH for an enterprise value of EUR 6.5 billion [CHF 6.8 billion] as part of their proposed merger. The assets include operations mainly in Europe, Canada, Brazil and the Philippines, and, taken together, the assets generated estimated 2014 sales of EUR 5.2 billion, with an estimated 2014 operating EBITDA of EUR 744 million. The divestment process will be submitted to the relevant Competition authorities and to the shareholders of CRH. The divestments are subject to the completion of the merger. The closing of the planned merger is expected in the first half of 2015.

In the context of the divestment process Homburger advised Holcim Ltd on related corporate governance matters. Further, Homburger assisted Holcim Ltd in the coordination and in the negociations with various national Competition authorities and advised, in particular, on the composition of the remedy packages that were offered in the relevant jurisdictions. Homburger also assisted Holcim Ltd in setting up the dataroom for potential buyers of the assets to be divested.

The Homburger team was led by partner Daniel Daeniker (Corporate | M&A and Financial Services) and comprised partners Franz Hoffet and Gerald Brei, counsel Martin Thomann and associate Bettina Meyer (all Competition).