LafargeHolcim has signed an agreement with Siam City Cement Company (SCCC) for the divestment of its entire 65% shareholding in LafargeHolcim Vietnam for an enterprise value of CHF 867 million (US$895.4 million). LafargeHolcim Vietnam operates one integrated plant and four grinding plants with an annual cement grinding capacity of 6.3 million tonnes. The company is also a leading ready-mixed concrete producer operating seven plants in southern Vietnam.
Closing of the transaction in Vietnam is subject to
August 4, 2016
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8161 LafargeHolcim has signed an agreement with Siam City Cement Company (SCCC) for the divestment of its entire 65% shareholding in LafargeHolcim Vietnam for an enterprise value of CHF 867 million (US$895.4 million). LafargeHolcim Vietnam operates one integrated plant and four grinding plants with an annual cement grinding capacity of 6.3 million tonnes. The company is also a leading ready-mixed concrete producer operating seven plants in southern Vietnam.
Closing of the transaction in Vietnam is subject to customary regulatory and shareholder approvals, as well as to a right of first refusal of LafargeHolcim’s joint venture partner, and is expected to occur in the fourth quarter of 2016.
SCCC is the 2nd largest cement company in Thailand. Established in 1969 and with an operational history of 45 years, it has recently embarked on a strategy of building a regional asset footprint that brings synergy in the wider region, having already established operations in Indonesia, Cambodia and Bangladesh and Sri Lanka. With a turnover of US$908 million in 2015, SCCC is listed and headquartered in Bangkok, Thailand. SCCC has two core shareholders the Thai Group, Ratanarak and Jardine Group, who both have a long term value creation orientation and have actively invested to ensure growth.
