Holcim increases offer for minority shares of St. Lawrence Cement

07.13.2007
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN AND THE EUROPEAN ECONOMIC AREA


Holcim Group ("Holcim") is increasing its offer to minority shareholders of St. Lawrence Cement Group Inc. ("SLC") to CAD $43.50 in cash per share. The total value of the revised offer is CAD $681 million. In connection with the increase in the offer price, the offer has been extended to 5:00 p.m. (Montreal time) on July 30, 2007.

The revised offer represents Holcim's best and final offer to SLC's minority shareholders and the offer will not be further extended if the minimum tender condition is not met.

The revised offer price of CAD $43.50 is above the valuation range of CAD $35.50 to CAD $41.00 per share as established by the independent valuator retained by the Special Committee of the Board of Directors of SLC. The revised offer represents a 44 percent premium over the volume weighted average trading price of the shares on the Toronto Stock Exchange for the 20 trading days ended February 23, 2007, the last trading date prior to Holcim's announcement of its original proposed offer.

Holcim understands that the Special Committee and the Board of Directors of SLC are currently reviewing Holcim's revised offer and will respond publicly with its recommendation in due course.

Holcim will file its Notice of Extension and Variation with Canadian regulatory authorities and mail copies to all SLC shareholders shortly.


* * * * * * *
Holcim is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel and sand) as well as further activities such as ready-mix concrete and asphalt including services. The Group holds majority and minority interests in more than 70 countries on all continents.
St. Lawrence Cement Group is a leading producer and supplier of products and services for the construction industry, namely cement, concrete, aggregates and construction. The company operates in Canada and on the eastern seaboard of the United States, and employs a total of 3,300 people.
* * * * * *

Cautionary Note:
This document contains "forward-looking statements" regarding the offer of the Holcim Group to purchase all of the class A subordinate voting shares of St. Lawrence Cement ("SLC") not already owned by the Holcim Group and all of the class 1 special shares of SLC, including statements regarding the terms and conditions of the proposed offer. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among others, the risks that the Holcim Group will not proceed with a formal offer or its offer will be unsuccessful for any reason.

The forward-looking statements contained in this document are made as of the date of this document and the Holcim Group and SLC do not undertake any obligation to update publicly or revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained in this document are expressly qualified by this cautionary note.

Legal Notice:
This release does not constitute an offer to purchase or a solicitation of an offer to sell securities. Shareholders are advised to review any relevant documents that may be filed with securities regulatory authorities by the Holcim Group and SLC because they contain important information, including full details of the proposal and its terms and conditions.

 
Didn't find what you were looking for?

Didn't find what you were looking for?

If you are interested in content published before 2011, please contact the Corporate Communications team at LafargeHolcim.

E-Mail