Holcim to Spin Off North American Ops in $30 Billion NY Flotation

Summary

  • Thomas Schmidheiny, Swiss billionaire and former chairman of Holcim, owns an estimated 7% stake in the company.
  • New growth opportunities are expected for both Holcim and involved companies through business activities aligning with industrial logic.
  • Holcim announces intent to spin off its North American operations 100%, potentially valuing the business at $30 billion.

Thomas Schmidheiny, a Swiss billionaire and the former chairman of Holcim, is said to hold about 7% shares in the company, according to his spokesperson. Schmidheiny is a direct descendant of Holcim’s founder.

Growth Prospects

The decision of this major financial move, he said, opens up new possibilities for growth for both Holcim and the involved companies. “Holcim has always operated based on industrial logic. This step is absolutely logical considering the growth potential in the US,”, he noted.

Holcim’s Upcoming Plans

Holcim has recently declared its decision to spin off the entirety of its North American holdings in a New York flotation. The overall value of this business could reach up to $30 billion, the company said on Sunday.

With such substantial changes to Holcim’s financial outlook, there could, arguably, be impacts on the forex market through potential shifts in stock value. Thus, investors should watch out for potential movements in assets tied to the company.

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