Swiss cement group Holcim and French rival Lafarge are to merge, creating a dominant supplier of cement for concrete to the global construction industry.

The deal, described in a statement on Monday as “a merger of equals”, and a major event in the global construction industry, will be based on the offer of one Holcim share for one Lafarge share. The two groups made a commitment to sell assets to pre-empt anti-trust objections from…