Lafarge has sold to Votorantim its 17.28% interest in Cimpor. The transaction will be completed in principle through an exchange of the Cimpor shares held by Lafarge for certain of Votorantim's assets in Brazil.
The value received by Lafarge for its stake will depend on the evolution of the outstanding tender offer for the Cimpor shares and on Votorantim's future decision about whether to keep the shares received as part of the exchange.
Thus, depending on the outcome of these events, Lafarge will receive either:
- Cement assets of Votorantim, located in regions complementing Lafarge's position in Brazil, and possibly additional assets or cash, depending on the final value offered for Cimpor
Or:
- The proceeds from any successful offer to which Votorantim may choose to tender its Cimpor shares.
The execution of this transaction allows the Group to unlock the value of its minority interest position in Cimpor, while capturing the best offer available.