Lafarge agrees gypsum sale

725 Lafarge has announced that it has agreed to sell its gypsum business in Europe and South America to 4445 Etex for €1billion. Under the deal, Lafarge will receive €850million in cash and a 20% interest in the new business that will combine Lafarge’s gypsum operations with that of Etex.

Lafarge CEO and chairman Bruno Lafont said, “This project unlocks immediate value for the group while allowing Lafarge to participate in the new entity’s future success. We are very pleased of the future prospects of this reinforced partnership with Etex Group, a strong industrial company with expertise in building materials and systems. This operation is positive for Lafarge and its shareholders and will contribute to the strengthening of the group’s balance sheet and to the optimisation of its portfolio.”