’HeidelbergCement to sell Malaysia assets’

’HeidelbergCement to sell Malaysia assets’
Published: 09 June 2009

HeidelbergCement is looking to sell assets in Malaysia for at least US$250m, two sources told Reuters, as the company tries to reduce debt.

HeidelbergCement has been active in Malaysia since the acquisition of British rival Hanson in August 2007, producing ready-mixed concrete, aggregates and asphalt, according to its website.

Standard Chartered is advising on the sale of these assets, said the sources, who declined to identified because the deal is not public. The sale, which may take a few months to complete, may draw interest from private equity firms, one of the sources with direct knowledge of the deal told Reuters.