First big acquisition for the Franco-Swiss LafargeHolcim since the start of its slimming treatment initiated three years ago.
The group, resulting from the merger in 2015 of the French cement manufacturer Lafarge with its Swiss competitor Holcim, announced Thursday the takeover of the American Firestone for 3.4 billion dollars (2.7 billion euros), which belongs to the manufacturer of Japanese Bridgestone tires.
With a turnover of 1.6 billion dollars, Firestone specializes in coatings and insulation materials for flat roofs, those of hangars, offices and businesses typical of American urban areas, a market estimated at 50 billion dollars.
The operation will be funded by cash and debt.
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The perfect target
Since the first leaks on this operation, Wednesday, the share of LafargeHolcim has gained more than 6%.
"Thanks to this transaction, we are strengthening ourselves in our biggest market, the United States,"
said LafargeHolcim boss Jan Jenisch.
The operation should thus contribute
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