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| Lafarge sells Chilean assets French cement and construction materials giant Lafarge announces the sale of its Chilean cement, aggregates and concrete assets to Brescia Group, one of largest business conglomerates from Peru, for US$555 million enterprise value, equal to 7.4 times the 2008 EBITDA. Lafarge owns 84% of these assets. The transaction is part of Lafarge's global divestment plan. Lafarge has been present in the Chilean market with cement, concrete and aggregates activities since 2001 through two entities: Lafarge Chile SA and Immobiliaria San Patricio. The assets sold include the La Calera cement plant, which is located around 100km from the capital Santiago and has capacity of 1.5 million tonnes, along with the Puerto Montt grinding station in southern Chile, which has a total capacity of 300,000 tonnes. A second grinding station is currently being built in Ventanas. Lafarge is also selling 54 ready-mix concrete units, 5 aggregates quarries, an import terminal and a mortar production unit. This transaction is part of Lafarge's announced 2009 €1 billion divestment program. Lafarge has already achieved 3/4 of its target: €750 million out of the €1 billion target announced in February 2009. write your comments about the article :: © 2009 Construction News :: home page |