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| World's biggest cement maker to sell its roofing activity  French building material giant Lafarge considered that the offer of PAI partners for the roofing activity is the best solution for the group. Within the framework of this project, Lafarge has chosen to hold a 35 per cent stake in the new entity, with a corresponding number of seats on the board. This project fully values the roofing activity, at an enterprise value of €2.4 billion, which represents a multiple of 9 times forecasted 2006 EBITDA. This amount includes €1.96 billion cash for the acquisition of the shares (versus an equity book value of €1.70 billion) and approximately €420 million of debt and pension liabilities borne by the acquirer. It would have a positive impact on 2007 EPS.write your comments about the article :: © 2006 Construction News :: home page |