Former LafargeHolcim CEO Placed Under Formal Investigation in France -Reuters

French authorities have placed Eric Olsen, the former chief executive of LafargeHolcim Ltd. (LHN.EB), under formal investigation as part of an inquiry into the group's activities in Syria, Reuters reports, citing an unknown source.

--Mr. Olsen quit as CEO in April after the company admitted it had paid off armed groups to keep a factory operating in Syria, Reuters says.

--Prosecutors launched an investigation into the group's possible financing of a terrorist enterprise in June.

--Three other individuals were placed under formal investigation last week and two others, including Lafarge's previous CEO Bruno Lafont, were questioned on Thursday evening, according to Reuters.

Full story: http://reut.rs/2A16ndf

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December 08, 2017 03:10 ET (08:10 GMT)