Anglo American sells Lafarge Tarmac interest; Lafarge, Holcim propose divestment of assets
According to a press release from Anglo American, Lafarge purchased the assets for a minimum value of £885 million (approximately $1.5 billion).
The company said it expects to use the proceeds to pay off its debt.
Lafarge’s Mannersdorf cement plant in Austria
Holcim’s assets in metropolitan France, with the exception of its Altkirch cement plant and aggregates and readymix sites in the Haut-Rhin market
Lafarge’s assets on Reunion island in France, with the exception of its shareholding in Ciments de Bourbon
Lafarge’s assets in Germany and Romania
Holcim’s assets in Serbia, Canada and Mauritius
Lafarge Tarmac assets in the U.K., with the possible exception of one cement plant
The two companies also note that their associated companies in the Philippines (Lafarge Republic Inc. — LRI and Holcim Philippines Inc.) could combine with their businesses other than LRI’s Bulacan, Norzagaray, and Iligan plants.
Additionally, Lafarge and Holcim said they will soon file with Brazilian regulator CADE to propose a divestment package.
Lafarge sold its cement operations in Ecuador for $553 million in May.
Lafarge and Holcim expect to close the merger in the first half of 2015.