Lafarge okays plan to buy Holcim for Tk 5b

Lafarge Surma Cement said today it has approved the acquisition of Holcim Bangladesh for about 500 crores of Tk, a price that had previously been set by the Bangladesh Bank.

The company informed the Dhaka Stock Exchange (DSE) that it has authorized its general manager to close the deal, said the DSE on its website today.

More: BB gives Lafarge 90 days to hand over Tk 504cr

In accordance with the agreement given September 17 by the Bangladesh Bank, Lafarge can pay a total of 504.78 crt for 88,244 Holcim shares within one month, which means that the process was to be completed on October 17th. not do it.

Later, he requested an extension of time and Bangladesh Bank granted 90 more days to remit the money.

Earlier in October, Lafarge asked the BB to review its decision, according to a summary of the company.

In December of last year, Lafarge Surma signed an agreement with Holderfin, based in Amsterdam, for the acquisition of its stake in Holcim Cement Bangladesh, for an amount of Tk 936 crore (117 million of dollars). Each of the 88,244 shares of Holcim was valued at $ 1,325.88 (Tk 1.06 lakh).

The central bank has aligned Holcim's stock price on the international valuation method, said a BB official.

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