South Korea: Baring Private Equity Asia has sold Halla Cement to Asia Cement for US$723m. The combined business will be the third largest cement player in Korea, with a combined market share of 19%.
Baring Private Equity Asia bought Lafarge Halla Cement from LafargeHolcim in 2016. It took full control of the cement producer in 2017. It was then reported to be shortlisting potential buyers for the company in September 2017.
Halla Cement operates one cement plant at Okgye and three slag cement grinding plants. It has a cement production capacity of 7.6Mt/yr. It also runs 11 distribution centres in the country, consisting of seven coastal and four inland centres.