LafargeHolcim to sell off Holcim Lanka
LafargeHolcim has announced that it has signed an agreement with Siam City Cement Public Company Limited for the divestment of its interest in Holcim Lanka for an enterprise value of $400 million. Holcim Lanka operates an integrated plant and one grinding plant and is the country's leading cement manufacturer. The proceeds from the sale of the divestment business will be used to further reduce debt.
The closing of the transaction in Sri Lanka is expected in the third quarter of 2017.