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LafargeHolcim to sell interest in Cemento Polpaico in Chile

Staff Writer |
LafargeHolcim has signed an agreement with Inversiones Caburga Limitada, a company of the Hurtado Vicuña Group, for the divestment of its 54.3% interest in Cemento Polpaico in Chile.

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An enterprise value is approximately CHF 220 million (on a 100 per cent basis). The transaction will be executed by way of a public tender offer by Inversiones Caburga Limitada to all shareholders of Cemento Polpaico.

Cemento Polpaico operates one integrated plant and two grinding plants with an annual cement capacity of 2.3 million tonnes. The company is also a leading ready-mix concrete producer operating 25 plants and produces aggregates.

The launch of the public tender offer is subject to the approval of the Chilean competition authorities which is expected for the first half of 2017. Following the successful completion LafargeHolcim would exit Chile completely.

LafargeHolcim has exceeded its divestment target of CHF 3.5 billion for 2016. The group announced in August that it would be extending the program to CHF 5 billion which it expects to complete by the end of 2017.

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