Bestway Cement buys Lafarge Pakistan Cement Ltd
Published by Katherine Guenioui,
Editor
World Cement,
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.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/24072014/bestway-cement-buys-lafarge-pakistan-160/
You might also like
World Cement Podcast
In the latest episode of the World Cement Podcast, Senior Editor David Bizley is joined by Dr Andrew Minson of the GCCA to discuss the ins and outs of the recently launched Low Carbon Ratings (LCR) system.
Molins announce first quarter results
Net profit reached €48 million, equivalent to earnings per share of 0.73 euros, 6% lower than the same period of the previous year.
