The owner of the cement company Lafarge Bruno Lafont ensures Saturday in Le Monde that it is not subject to further amend the proposed merger with the Swiss Holcim already overhauled without satisfying all shareholders.
“Financial parities will not move, governance not more,” he said, estimating that the modification of the project granted on March 20 was sufficient.
“Eleven months after the first project, market conditions had changed a little, and we have therefore amended, while preserving the principle of a merger of equals, “said Mr. Lafont, who will not have the future of operational commands together.
About the future boss, he argues for the choice of a “cement expert already familiar with the job and the company.”
In the Financial Times Saturday, leader Groupe Bruxelles Lambert, one of the holding companies of the Belgian billionaire Albert Frère and principal shareholder of Lafarge, calling him a patron able to inspire a “new culture.”
“We need someone endowed with a different experience and an international profile, “says Gérard Lamarche, CEO of the company.
Lafarge and Holcim had found the 20 March 1 agreement meant saving their proposed merger, which was reviewing conditions securities trading, now 9 Holcim actions against 10 Lafarge shares instead of perfect equality. And confided to Bruno Lafont’s role as co-chair of the future cement giant.
These developments, however, have not convinced all shareholders. According to Bloomberg, the second largest shareholder of Holcim Eurocement Russian company which owns 10.8%, plans to vote against marriage at a general meeting in May.
According to Le Monde The third shareholder of Holcim, Harris Associates, would book her answer. Bruno Lafont, however, assured the evening newspaper that “the merger was not in danger.”
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