GIC might bid for Holcim-Lafarge assets

Visual from the company website

Groups led by Blackstone Group and CVC Capital Partners, as well as Ireland’s CRH, submitted bids for assets put up for sale by cement makers Holcim and Lafarge ahead of their planned merger, according to people familiar with the matter.

Blackstone teamed up with Cinven and Canada Pension Plan Investment Board, while CVC made a bid with Singapore’s sovereign-wealth fund GIC, the source, asking not to be identified as the talks are private, told Bloomberg.

CRH, the Dublin-based building-materials company, also bid for most of the assets, one of the people said.

The winner of the portfolio, which is valued at about $6 billion, may be announced as soon as next month, they said.

Spokesmen for Paris-based Lafarge and Jona, Switzerland-based Holcim declined to comment, as did representatives for Blackstone, CVC, Cinven, CPPIB and CRH.

A spokesman for GIC didn’t respond to an e-mail seeking comment.

The Swiss and French cement makers are seeking to divest businesses with revenue of about five billion euros (US$5.9 billion) to ensure regulatory approval for the deal.

The companies expect the$40 billion merger, agreed on in April 2014, to be completed in the first half of this year.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.