LafargeHolcim has bought out Anglo American’s 50% stake in Lafarge Tarmac in the UK for £992 million. This is a preliminary step towards disposing of the business, which is being sold to CRH – with the exception of the Cauldon and Cookstown plants and certain non-operational properties. CRH is also picking up assets in Europe, Canada, Brazil and the Philippines. These divestments are scheduled for completion at the end of July, with the exception of the Philippines, which will be completed in 3Q15.
Anglo American reports that the completion of this transaction brings the aggregate proceeds received by Anglo American for the sale of its Tarmac assets to approximately US$2.5 billion since 2008.
Adapted from press releases by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/17072015/lafargeholcim-buys-anglo-american-stake-in-lafarge-tarmac-185/