Lafarge and Holcim have taken a further step towards their planned merger of equals to create LafargeHolcim, the most advanced and innovative group in the building materials industry.

A Divestment Committee was set up by both companies, following the announcement of the planned merger on April 7, with the aim of taking forward the divestment process. It has drawn up a list of proposed asset disposals, to anticipate potential competition authorities' requirements.

The announcement represents a major part of the total assets that the two companies aim to divest.

Both companies will continue to consider whether divestments would be necessary where there might be overlaps or depending on regulatory requirements.

These proposed divestments are subject to review and further discussions with the regulatory authorities and to the agreement of our business partners when relevant.

The divestment process will be carried out in the framework of the relevant social processes and ongoing dialogue with the employee representatives' bodies and will be conducted in parallel to discussions with the competition authorities and potential buyers. The divestment process will be completed subject to the closing of the merger between Holcim and Lafarge.

This announcement follows the formal signing of the combination agreement, marking the conclusion of the merger terms announced on April 7, 2014. The combination remains conditional upon the required regulatory and other customary consultations and approvals.

As announced, the closing of the planned merger is expected in H1 2015, aiming to create the most balanced and diversified portfolio in the industry, operating in 90 countries and creating superior value for its stakeholders.