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Saturday, January 31, 2015

Lafarge SA, Holcim near deal to sell $7 billion in assets to CRH -WSJ, (NYSE: CRH)

Cement companies Lafarge SA and Holcim Ltd are nearing a deal to sell at least $7 billion worth of assets to Ireland's CRH PLC, the Wall Street Journal reported on Saturday, citing people familiar with the matter. The Journal noted that the sale of the assets in Europe, Canada and elsewhere was a precondition of winning antitrust approval for the roughly $40 billion pending merger between France's Lafarge and Switzerland's Holcim.

CRH plc is a diversified building materials company, which manufactures and distributes building material products from the fundamentals of heavy materials and elements to construct the frame, through exterior products that complete the building envelope, to distribution channels, which service construction fit-out and renewal. Shares of CRH fell by 1.83% or $-0.45/share to $24.14. In the past year, the shares have traded as low as $19.95 and as high as $30.06. On average, 607163 shares of CRH exchange hands on a given day and today's volume is recorded at 436711.