Holcim says it is on track to complete a merger with Lafarge after strong quarter

Switzerland Holcim cement maker said that its merger with Lafarge is walking as expected for completion in the first half, after disclosing a high of 6 percent in its operating profits in the fourth quarter, outpacing the growth of the French company.
Holcim said it is still awaiting antitrust approval in five of the 20 jurisdictions in which requested approval for the merger, including to India, its largest single market, the United States and Canada.
In Brazil, the Administrative Council for economic Defense (Cade) approved the merger of the cement plants with restrictions in December last year.
Asked if the strong results of the Holcim compared to those of Lafarge may affect the exchange ratio of 1 to 1 planned for the conversion of shares of Lafarge in shares of Holcim, the Chief Executive, Bernard Fontana, told Reuters that "there is no automatic adjustment".
The merger will create the largest cement company in the world with 44 billion dollars in sales. The two companies are selling assets as part of its merger plan.
The earnings before interest, taxes, depreciation and amortization (Ebitda, the acronym in English) of Holcim in the fourth quarter grew 6 percent to 1.01 billion Swiss francs (1.06 billion dollars), helped by cost cuts faster than expected and strong cement sales in North America, slightly above analysts ' estimates.