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Anglo, Lafarge sign binding agreement

Anglo, Lafarge sign binding agreement

Photo by Bloomberg

25th July 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Diversified mining major Anglo American has reached a binding agreement for the £885-million sale of its 50% interest in the Lafarge Tarmac joint venture (JV) to cement producer Lafarge.

Lafarge Tarmac, formed in January 2013, is a 50:50 JV between Lafarge and Anglo American’s construction materials and services businesses in the UK.

The deal between Anglo American and Lafarge remained subject to regulatory approval and the divestment of Lafarge Tarmac being accepted as a suitable remedy for the UK market in respect of the merger, as well as to the conclusion of the Lafarge/Holcim merger, which was expected in the first half of 2015.

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Edited by Creamer Media Reporter

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