Lafarge signs agreement to take full ownership of its Lafarge Shui On Cement subsidiary in China.

Lafarge signs agreement to take full ownership of its Lafarge Shui On Cement subsidiary in China.

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 Lafarge Holcim following completion of the merger project and this purchase.
This transaction is also subject to the approval of the shareholders of SOCAM
← Hong Kong Tai Po site sold for HK$3.48b McDermott Awarded Subsea Fabrication Contract by FMC Technologies for Jangkrik Complex Offshore Kalimantan, Indonesia →

Comments are closed