Lafarge and Boral agree Asian deal

725 Lafarge has agreed with 2837 Boral to sell them its stake in their common Asian Gypsum joint venture LBGA (Lafarge Boral Gypsum Asia) for €429 million, which represents the enterprise value of Lafarge’s 50%-stake in the jv.

LBGA is a 50/50 joint venture formed in 2000 between Lafarge and Boral, a leading supplier of plasterboard and other gypsum-related products across Asia, operating throughout ten countries with 20 production facilities and employing around 2,100 people.

In 2010, LBGA’s sales group share accounted for €181 million with an EBITDA Group share of €31 million.

The deal is expected to be completed before year-end.