With the pending merger of Holcim and Lafarge, Holcim has answered confusion in Kenya over the future ownership of Bamburi Cement, in which Lafarge has a 58.6% controlling stake. “We have no intention of making a take-over offer for BCL,” Holcim said. “The proposed combination would be structured as a public exchange offer filed by Holcim for all outstanding shares of Lafarge on the basis of a 1 for 1 exchange ratios with an agreement to have equal dividends on a per share basis between announcement and completion…The proposed combination will not effect any changes to the ownership of BCL.”

Lafarge and Holcim this week announced planned divestments to get their merger through competition regulators, with the only planned divestment in Africa being Holcim’s assets in Mauritius