Lafarge announces the sale of its cement operations in Pakistan for an enterprise value of USD 329 million (244 million euros) to BestWay Cement.
Lafarge Pakistan Cement Ltd*, listed on the Karachi, Lahore and Islamabad stock exchanges, operates an integrated cement plant, located close to Islamabad in the North of the country.
This divestment will contribute to Lafarge's net debt reduction objective.
This transaction is subject to the authorization from relevant authorities and compliance with regulatory obligations.
*Lafarge owns 75.86% of Lafarge Pakistan Cement Limited
NOTES TO EDITORS
A world leader in building materials, Lafarge employs 64,000 people in 62 countries, and posted sales of €15.2 billion in 2013. 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.