Anglo American to Sell Lafarge Tarmac Stake for £885m

By Admin
Share
Mining giant Anglo American Plc is to sell its 50 percent stake in Lafarge Tarmac to Lafarge for at least £885 million ($1.5bn) in cash, on a debt...

Mining giant Anglo American Plc is to sell its 50 percent stake in Lafarge Tarmac to Lafarge for at least £885 million ($1.5bn) in cash, on a debt and cash free basis, it said on Monday.

Anglo American said the sale will be subject to a number of conditions including the completion of the merger between Lafarge and materials/aggregates specialist Holcim, the divestment of Lafarge Tarmac being accepted as a suitable remedy and approval by the necessary regulators, including the European Commission.

To obtain the regulatory approval for a merger that would create the world’s largest cement manufacturer, Lafarge and Holcim must shed about £3.9bn in assets.

Anglo American and Lafarge will work towards finalising the terms of a definitive agreement in Q3 2014, the company said, and the merger is expected to be completed in the first half of 2015.

Share

Featured Articles

Vattenfall Wind Farm Lays Foundations for Sustainability

Swedish multinational power company Vattenfall's Bruzaholm wind farm project demonstrates carbon reduction best practice with its concrete foundations

BRE Chief Calls for Construction Industry Action on Net Zero

Gillian Charlesworth, CEO of Building Research Establishment, urges construction industry to innovate on sustainability in the face of climate change

How Mercury Plugs Power Gap in Data Centre Construction

Mercury Engineering using battery packs to secure energy needs in data centre construction, while Compass uses off-site construction to cut energy needs

Balfour Beatty and Microsoft Collaborate on AI Challenge

Technology & AI

AI Changing Face of Data Centre Design & Construction

Technology & AI

Explainer: What is Steel Fixing and why is it Crucial?

Built Environment