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News Siam City Cement buys Holcim Lanka

Siam City Cement buys Holcim Lanka

Written by Global Cement staff 25 July 2016
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Sri Lanka: LafargeHolcim has signed an agreement with Siam City Cement to sell Holcim Lanka for US$400m. Holcim Lanka operates one integrated plant and one grinding plant in the country. The transaction is expected to close in the third quarter of 2016.

The proceeds from the sale of Holcim Lanka will be used by Lafarge Holcim to further reduce debt. The Sri Lanka sale follows the divestment of Lafarge India to Nirma that was announced in mid-July 2016. The group says it has now secured three-quarters of its targets to reduce its debt by Euro3.2bn in 2016.

Last modified on 26 July 2016
Published in Global Cement News
Tagged under
  • Sri Lanka
  • Holcim Lanka
  • LafargeHolcim
  • Acquisition
  • GCW261

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