Lafarge sell remaining gypsum stake to Etex

Minority stake in European and South American gypsum operations sold to Etex for €145 million

LAFARGE have announced the sale of their 20% minority stake in European and South American gypsum operations to Etex for an immediate cash consideration of €145 million. The transaction, which is subject to customary closing conditions, is expected to be completed in the coming weeks.

In 2011 Lafarge sold their European and South American gypsum assets to the Belgium-based Etex Group, specialists in dry building materials and systems, for €850 million but retained a 20% interest in the new joint-venture partnership.

Last year Lafarge sold their North American subsidiary’s gypsum assets to an affiliate of Lone Star Funds for €533 million (US$700 million), completing the Group’s focus on its core businesses of cement, aggregates and ready-mixed concrete.