Lafarge has signed an agreement to buy out a 45% interest in Lafarge Shui On Cement, subject to the completion of its planned merger with Holcim
Lafarge has signed an agreement to acquire the 45 stake held by SOCAM Development Limited in Lafarge Shui On Cement, for a consideration of HK$2,553 million (eq. to c. €294 million) subject to the completion of its merger project with Holcim.
With a total cement production capacity of 32 million tonnes in South West China - in the provinces of Yunnan, Sichuan, Guizhou and Chongqing -, Lafarge Shui On Cement would thus become a wholly-owned subsidiary of LafargeHolcim following completion of the merger project and this purchase.
This transaction is also subject to the approval of the shareholders of SOCAM.
NOTES TO EDITORS
A world leader in building materials, Lafarge employs 63,000 people in 61 countries, and posted sales of €12.8 billion in 2014. As a top-ranking player in its Cement, Aggregates and Concrete businesses, it contributes to the construction of cities around the world, through its innovative solutions providing them with more housing and making them more compact, more durable, more beautiful, and better connected. With the world’s leading building materials research facility, Lafarge places innovation at the heart of its priorities in order to contribute to more sustainable construction and to better serve architectural creativity.