Lafarge to buy out interest in Lafarge Shui On Cement
Tuesday, March 3, 2015 - 13:30
Agreement to acquire 45% stake held by SOCAM Development, subject to completion of merger with Holcim
LAFARGE have signed an agreement to acquire the 45% stake held by SOCAM Development Ltd in Lafarge Shui On Cement for a consideration of HK$2,553 million (c.€294 million), subject to the completion of their merger project with Holcim.
With a total cement production capacity of 32 million tonnes in the south-west Chinese 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.
The transaction is also subject to the approval of the shareholders of SOCAM.