Shareholders of Swiss cement maker Holcim paved the way for the planned merger with French rival Lafarge SA by approving a capital increase needed for the deal.

The second-largest shareholder in Swiss cement maker, Holcim, has said it supports the company’s planned merger with France’s Lafarge.

CRH is continuing to work under the assumption that the merger of its European peers Holcim and Lafarge will succeed, but has maintained that a collapse of the proposed deal will not hamper its own ambitious growth plans.

CRH's €7bn buy-out of the UK’s biggest cement maker has been thrown into doubt after a setback in the merger of Lafarge and Holcim.