LafargeHolcim expects synergies of CHF 1.5bn, possible share buybacks
LafargeHolcim expects to reap synergies of CHF 1.5bn (EUR 1.36bn) through the merger of Holcim und Lafarge, Sonntagszeitung reported.
Its Chief Executive, Eric Olsen, told the Swiss weekly that while the merger had not yet resulted in the benefits expected, this was normal for such a complex, global merger.
Olsen said it would take time but the merger would generate a massive increase in value and shareholders would benefit through special dividends and share buyback programmes.
He added that the merger would enable annual investments to be reduced to CHF 2bn per year from CHF 3bn. Divestments of company units valued at CHF 3.5bn are also planned, Olsen stated, confirming previous company comments.
Sonntagszeitung