Lafarge agreed with Boral on Aug. 17 to sell the company its stake in its common Asian gypsum joint-venture LBGA (Lafarge Boral Gypsum Asia) for 429 M€ (representing the enterprise value of Lafarge’s 50 percent-stake in the joint-venture).

LBGA is a 50/50 joint-venture formed in 2000 between Lafarge and Boral. The company is a leading supplier of plasterboard and other gypsum-related products across Asia, operating throughout 10 countries with 20 production facilities and employing around 2,100 people. In 2010, LBGA’s sales group share accounted for 181 M€, with an EBITDA Group share of 31 M€.

This deal is expected to be completed before year-end.