Holcim and Lafarge will divest plants, terminals and an Iowa quarry to win US regulatory approval for a merger between the European cement makers that will form the industry’s biggest producer.

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

The Russian businessman Filaret Galchev, who owns a 10.8% stake in Swiss building materials group Holcim, via Eurocement Holding, has rejected the merger offer that France’s Lafarge has made for Holcim, a Swiss newspaper reported.