NEW YORK (AP) — U.S. antitrust regulators say Holcim and Lafarge agreed to sell assets including cement plants and transportation assets to complete their merger, which will make the world’s largest cement company.

The Federal Trade Commission says the combination of the two companies would have reduced competition for portland cement, a component of concrete, in many U.S. markets. It also would have reduced competition for a specialty type of cement called slag cement.

Lafarge will sell its Continental Cement business along with a cement plant, a quarry and some distribution assets, while Holcim will sell several cement plants and distribution terminals.

Holcim Ltd. is based in Switzerland and Lafarge SA is based in France. The companies hope to combine in July. Together they will have about $34 billion in annual revenue.

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