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LafargeHolcim sells its 65 pct stake in Vietnam joint venture

Friday, August 05, 2016, 09:57 GMT+7

Building materials company LafargeHolcim Ltd has signed an agreement with Siam City Cement Public Company Limited for the divestment of its 65 percent shareholding in LafargeHolcim Vietnam, it said on Thursday.

The enterprise value of the deal was 867 million Swiss francs ($890.7 million), on a 100 percent basis, the Swiss-French group said in a statement.

It said the transaction was subject to customary regulatory and shareholder approvals, as well as to a right of first refusal of LafargeHolcim's joint venture partner, and was expected to close in the fourth quarter of 2016.

LafargeHolcim reports second-quarter results on Friday. ($1 = 0.9734 Swiss francs) 

Reuters

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