LafargeHolcim Sells Malaysia, Singapore Assets
May 02 2019 - 2:05AM
Dow Jones News
By Nathan Allen
LafargeHolcim Ltd. (LHN.EB) said Thursday that it has agreed to
sell its Malaysian and Singapore operations as part of an extensive
savings drive begun last year.
The Switzerland-listed cement maker will sell its 51% stake in
Lafarge Malaysia Berhad for $396 million in cash, equivalent to a
43% premium over the average trading price of the last 90 days.
LafargeHolcim also agreed to sell its 91% stake in Holcim
Singapore to YTL Cement Singapore PTE Ltd., but didn't disclose the
deal value.
The company said the transactions will help it reach its target
of bringing down its ratio of net debt to earnings before interest,
taxes, depreciation and amortization below two by the end of the
year.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
May 02, 2019 01:50 ET (05:50 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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