UK: LAFARGE BID FOR BLUE CIRCLE CONSIDERED

Article Abstract:

Canadian regulators are still discussing the legalities of the Lafarge bid for UK company, Blue Circle, currently resting at GB[pound] 3.65bn. What is being inspected is Lafarge advisor's, Dresdner Kleinwort Benson's, purchase of a 9.6% stake in Blue Circle after a 20% stake had already been acquired. More than 20% of a target company is not allowed to be purchased ahead of clearance under Canadian regulations. Even though the purchase was made by a third party, DKB did not seek proper clearance.

Lafarge Corp., LAF

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CANADA: LAFARGE TO REDUCE BCI HOLDING

Article Abstract:

French building materials group, Lafarge, is expected to be given two years to cut its holding in cement producer, Blue Circle Industries (BCI), to 10%. Competition bodies in Canada say that such a move would stop Lafarge and Blue Circle having a dominant market share in Ontario, where they account for 60% of the market. During its failed bid for BCI, Lafarge accumulated a 29.6% stake.

Canada, Government regulation (cont), Brief Article, LaFarge S.A., Blue Circle Industries PLC

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PHILIPPINES/UK: BLUE CIRCLE COMBINES OPERATIONS

Article Abstract:

In a bid to improve profits and cut costs, the UK's No. 1 cement maker Blue Circle is to combine its operations in the Philippines. Four firms will be contained in a holding company, in which Blue Circle will own a 64.5% share. The move should save up to GB[pound] 13mn per year in three years.

Philippines

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