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| Canada
In April, it was announced that FLSmidth had signed a conditional agreement with the Board of Directors of Groupe Laperrire Verreault Inc. (GL) to acquire the company's process division (GL Process) consisting of the two companies Dorr-Oliver Eimco and Krebs Engineers. The agreement was among other conditions subject to the approval of at least 75% of GL's shareholders, on a per class basis, as well as the necessary governmental approvals. All the relevant Canadian authorities and the competition regulators in the most important countries, notably USA and Germany, have approved the transaction. On 10 August 2007, a binding agreement about the purchase of the shares in GL&V was made.The total acquisition price for the whole of GL&V Process amounts to CAD983 million (DKK5 billion) on a debt and cash free basis. The acquisition of Dorr-Oliver Eimco and Krebs Engineers (GL&V Process) is fully in line with the FLSmidth Group's strategic objective of strengthening its minerals activities to bring them to the same level as the Group's activities in the cement industry. Together, the companies will now be able to offer the market complete solutions covering the entire process, from minerals extraction to the final end product. | |||||||||||||||||
