Lafarge Surma Cement Ltd and Holcim Cement (Bangladesh) Ltd have completed required filings before the Registrar of Joint Stock Companies and Firms as a part of their merger move.
According to the information disseminated on Dhaka Stock Exchange website on Monday, the listed company informed ‘the necessary filings before the registrar of Joint Stock Companies and Firms have been completed.’
They also informed that the buyer and seller have executed necessary documents, including share transfer instruments for transfer of 88,243 shares of HBL to LafargeHolchim Bangladesh and one share to its chief executive officer Rajesh K Surana in terms of the amendment to the agreement for the sale and purchase of the HBL shares.
On December 24 last year, Lafarge informed DSE that both company had approved the acquisition of 100 per cent shares of Holcim Cement (Bangladesh) Ltd at the price of Tk 504.78 crore set by Bangladesh Bank after making amendments to their previous shares buy-sale agreement.
In December 2016, Lafarge Surma signed an agreement with Amsterdam-based Holderfin to purchase its holdings in Holcim Bangladesh for Tk 936 crore valuing each share of Holcim at Tk 1.06 lakh and sought permission from the BB to remit Tk 936 crore.
On September 17 last year, the BB rejected the valuation saying that the deal overvalued Holcim shares. The central bank, later, set the acquisition value at Tk 504.78 crore and it asked the company to remit the fund.
In 2015, Lafarge and Holcim officially got merged in about every country where they have operations.
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