Lafarge sells Ecuador cement operations for $553 million
The sale includes a 1.4 million-ton capacity cement plant in Otavalo, Ecuador, and is expected to help the company reduce net debt below 9 billion euros ($12.26 billion) in 2014.
The announcement follows news that the company plans to merge with Holcim to create LafargeHolcim — a deal that is slated to close in the first half of 2015.
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