By Neil MacLucas
ZURICH--Holcim Ltd. (HOLN.VX) has closed a package of asset
swaps with Mexico's Cemex SAB de CV (CX), the Swiss cement giant
said Tuesday.
Jona, Switzerland-based Holcim said it had acquired Cemex
operations in western Germany and the Netherlands, while Monterrey,
Mexico-based Cemex has bought Holcim's businesses in the Czech
Republic.
Cemex also acquired Holcim's Gador plant and its Yeles grinding
station in Spain, Holcim said.
The transactions come as the Swiss cement giant positions itself
for a planned $43 billion union with France's Lafarge SA (LG.FR).
Last month, the European Commission approved the combination,
subject to significant asset sales across the region.
Tuesday's deals predate the Holcim-Lafarge plans, but were
modified to take into account the European Commission's
requirements regarding operations in the European Union, a Holcim
spokesman said.
Holcim will get 45 million euros ($54 million) in cash from
Cemex and expects the transactions to generate operating income of
at least EUR10 million on a yearly basis.
Write to Neil MacLucas at neil.maclucas@wsj.com
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