Lafarge sell minority stake in Elementia

French building materials giant sells its minority stake in joint venture with Elementia in Mexico 

LAFARGE have announced the sale of a 47% minority stake in their joint venture with Elementia in Mexico. The jv comprises three cements plants, including the recently inaugurated El Palmar works in Hidalgo which has a production capacity of 1 million tonnes per annum.

The sale of the stake for a cash consideration of US$225 million (€175 million) will contribute to Lafarge’s objective to reduce net debt.

The transaction is subject to the authorization of relevant authorities and customary closing conditions.