Not for release, publication or distribution in or into the USA, Canada, Australia or Japan
On 8 January 2001, Lafarge announced the recommended Acquisition of Blue Circle Industries PLC ("Blue Circle") at a price of 495p per share in cash, subject to a pre-condition that funding for the Acquisition would be arranged on terms reasonably satisfactory to Lafarge by no later than the close of business on 29 January 2001.
Lafarge announces that funding for the Acquisition has been arranged pursuant to agreements signed yesterday. Accordingly, the pre-condition to the Acquisition has now been satisfied.
Lafarge will issue new ordinary shares on a pre-emptive basis to its existing shareholders at a price of Euro 80 per ordinary share on the basis of 1 new share for every 8 existing Lafarge shares held, to raise approximately Euro 1.1 billion.
The subscription period for the rights issue will run from 22 January 2001 to 2 February 2001 with listing of new shares taking place on 22 February 2001.
The rights issue has been underwritten by BNP PARIBAS and Dresdner Kleinwort Wasserstein and a syndicate of other banks.
As part of the funding of the Acquisition, Lafarge has also signed a new bank facility which has been arranged by BNP PARIBAS and Dresdner Bank AG London Branch.
Dresdner Kleinwort Wasserstein, which is regulated by The Securities and Futures Authority Limited, is acting for Lafarge and no one else in connection with the Acquisition and will not be responsible to anyone other than Lafarge for providing the protections afforded to customers of Dresdner Kleinwort Wasserstein or for giving advice in relation to the Acquisition.
BNP PARIBAS, which is regulated in the United Kingdom by The Securities and Futures Authority Limited, is acting for Lafarge and no one else in connection with the Acquisition and will not be responsible to anyone other than Lafarge for providing the protections afforded to customers of BNP PARIBAS or for giving advice in relation to the Acquisition.
Dresdner Kleinwort Wasserstein has approved this announcement solely for the purposes of Section 57 of the Financial Services Act 1986.
A prospectus has been filed with the Commission des Operations de Bourse and has received the visa number 01-011 dated 11 January 2001.
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