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Swiss building materials company Holcim Ltd. (OTCPK:HCMLF) is nearing an agreement to separate its North American business.
A deal could be announced as soon as Monday, according to a Bloomberg report on Saturday, which cited people familiar with the matter. The Wall Street Journal first reported the news on Saturday and said the business may be valued at $30 billion.
A separation of the U.S. business would allow Holcim (OTCPK:HCMLF) to take the North American unit public at some point, the WSJ said. With a higher valuation in the U.S., the company could pursue acquisitions.
Holcim (OTCPK:HCMLF) is scheduled to report Q4 results on Feb. 28.
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