Skip to main content

LafargeHolcim slumps as Sberbank exits

Published by , Editor
World Cement,


Bloomberg is reporting that Sberbank PJSC is selling a stake in LafargeHolcim valued at about US$1.5 billion. The move has sent shares in the LafargeHolcim down to their lowest level since 2009.

Sberbank purchased a 6.12% stake in LafargeHolcim in January 2016 from its competitor Eurocement Holding AG as part of a repurchase agreement, making the Russian lender the third-largest stakeholder.

In 2016, the stock of LafargeHolcim has tumbled 26%, erasing more than US$7 billion in market value.

Sberbank and Eurocement signed a cooperation agreement in 2014 to help fund construction of cement manufacturing plants in Russia. The agreement also permitted the two companies to cooperate on a wide range of issues from settlement and cash services to investment banking activities.


Edited from source by Joseph Green. Source: Bloomberg

Read the article online at: https://www.worldcement.com/europe-cis/10022016/lafargeholcim-slumps-sberbank-exits-476/

You might also like

The World Cement Podcast - CleanTech & Venture Capital

Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.

Tune in to the World Cement Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):