LafargeHolcim has signed an agreement to sell Holcim Lanka - its Sri Lanka cement business - to Siam City Cement for US$400 million. Holcim Lanka operates one integrated plant and one grinding plant and is the country’s leading cement manufacturer. The proceeds from the sale of the divestment business will be used to further reduce debt. Following the agreement earlier this month for the divestment of Lafarge India to Nirma, this is a further step for LafargeHolcim towards reaching its CHF 3.5 billion dives
LafargeHolcim has signed an agreement to sell Holcim Lanka – its Sri Lanka cement business – to Siam City Cement for US$400 million. Holcim Lanka operates one integrated plant and one grinding plant and is the country’s leading cement manufacturer. The proceeds from the sale of the divestment business will be used to further reduce debt.
Following the agreement earlier this month for the divestment of Lafarge India to Nirma, this is a further step for LafargeHolcim towards reaching its CHF 3.5 billion divestment target for 2016. The Group has now secured three-quarters of the program.
Closing of the transaction in Sri Lanka is expected in Q3 2016.
