LafargeHolcim divests activities in Malaysia and Singapore
This price represents a premium of 43 percent compared to the last 90 days trading period of Lafarge Malaysia Berhad on the Malaysian stock exchange.
Lafarge Malaysia Berhad operates three integrated cement and two grinding plants.
With the divestment, LafargeHolcim will fully exit the Malaysian market.
YTL Cement Berhad is part of YTL Corporation Berhad, a Malaysian infrastructure conglomerate, which is mainly active in cement production, construction, property development and utilities.
Additionally, LafargeHolcim has signed an agreement with YTL Cement Singapore PTE Ltd for the divestment of its entire 91 percent shareholding in Holcim Singapore Ltd.
The proceeds of both transactions will allow LafargeHolcim to further improve its debt ratio by approximately 0.1 time, contributing to reach its target ratio of Net Debt to Recurring EBITDA of 2 times or less by the end of 2019. ■