Anglo American sells Lafarge Tarmac interest; Lafarge, Holcim propose divestment of assets

| Published on July 7, 2014

Lafarge-Tarmac-Aggregates-Manager

Lafarge intends to divest the majority of Lafarge Tarmac assets after purchasing Anglo American’s 50-percent interest in the assets, the companies announced Monday.

Related: Lafarge, Holcim merger expected to impact Canada

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 and Holcim on Monday said they plan to sell the Lafarge Tarmac assets along with several other assets as part of their planned merger. The companies’ proposed divestments include:

  • 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.

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