Bestway Cement has acquired Lafarge’s 75.86% stake in Lafarge Pakistan Cement Ltd for an enterprise value of US$329 million (€244 million). Lafarge Pakistan Cement Ltd operates an integrated cement plant in the north of Pakistan, close to Islamabad.
The sale is in line with Lafarge’s debt reduction objective and is not a requirement of the company’s merger with Holcim.
Bestway Cement is part of the UK Bestway Group, founded by Sir Mohammed Anwar Pervez more than 30 years ago. The group has a diversified portfolio including cement manufacturing, banking, retail, real estate and power.