Lafarge agreed with Boral to sell them its stake in their common Asian Gypsum joint-venture LBGA (Lafarge Boral Gypsum Asia) for €429m (representing the enterprise value of Lafarge’s 50%-stake in the joint-venture).
LBGA is a 50/50 joint-venture formed in 2000 between Lafarge and Boral. The company is a leading supplier of plasterboard and other gypsum-related products across Asia, operating throughout 10 countries with 20 production facilities and employing around 2,100 people. In 2010, LBGA’s sales Group share accounted for 181 M€, with an EBITDA Group share of €31m.
This deal is expected to be completed before year-end.