Lafarge sells cement operations in Ecuador for €405mn

Lafarge has sold its cement operations in Ecuador for an enterprise value of US$553 million (equivalent to €405 million) to Union Andina de Cementos (UNACEM). Lafarge Cementos operates an integrated cement plant of 1.4 million tonnes capacity, located in Otavalo in the north of the country. This divestment will contribute to Lafarge's objective to reduce net debt below €9 billion in 2014. This transaction is subject to customary closing conditions.
May 28, 2014 Read time: 1 min

725 Lafarge has sold its cement operations in Ecuador for an enterprise value of US$553 million (equivalent to €405 million) to Union Andina de Cementos (UNACEM).

Lafarge Cementos operates an integrated cement plant of 1.4 million tonnes capacity, located in Otavalo in the north of the country.

This divestment will contribute to Lafarge's objective to reduce net debt below €9 billion in 2014.

This transaction is subject to customary closing conditions.

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