Cementos Argos - September 2013
As part of Lafarge’s ongoing push to raise cash from asset sales to reduce its debt, it has announced the sale of its Honduras unit to Colombia’s Cementos Argos. Subject to approval by the local antitrust authorities, Cementos Argos will acquire Lafarge’s 53.5 per cent stake in the Honduras operations at a cost of US$306m. The assets include an integrated cement plant with a capacity of 1Mta and a grinding station with a 0.3Mta capacity. Immediately following the deal, shares in Cementos Argos rose 1.31 per cent to COP9300.