LafargeHolcim to divest Holcim Lanka

Group agrees to sell Sri Lankan cement interests to Siam City Cement for US$400 million  

LafargeHolcim have signed an agreement with Siam City Cement Public Co. Ltd for the divestment of their interest in Holcim Lanka for an enterprise value of US$400 million.

Holcim Lanka operate one integrated plant and one grinding plant and are Sri Lanka’s leading cement manufacturers. The proceeds from the sale will be used to further reduce debt.

Closing of the transaction in Sri Lanka is expected in the third quarter of 2016.

Following the agreement earlier this month for the divestment of Lafarge India to Nirma Ltd, this latest deal marks a further step for LafargeHolcim towards reaching their CHF3.5 billion divestment target for 2016.

The Group has now secured three-quarters of the divestment programme.