Siam City Cement buys LafargeHolcim Vietnam

Vietnam: Siam City Cement has signed an agreement to buy LafargeHolcim’s entire 65% stake in LafargeHolcim Vietnam for US$890m. LafargeHolcim Vietnam operates one integrated cement plant and four cement grinding plants with a grinding capacity of 6.3Mt/yr. The company is also a leading ready-mix concrete producer that operates seven plants in southern Vietnam. The sale is subject to regulatory and shareholder approvals, as well as to a right of first refusal of LafargeHolcim’s joint venture partner, and is expected to occur in the fourth quarter of 2016.