Investment funds eye Lafarge roof unit
At least a dozen investment funds and an industrial group are studying the potential acquisition of building materials group Lafarge’s roofing business, according to reports from La Tribune newspaper of France.
Citing its own sources it said that indicative offers were to be submitted on Sept. 6 for the business which it said was valued at EUR2bn.
La Tribune said the interested investment funds were Doughty Hanson, Candover, Advent, Carlyle, Cinven, PAI Partners, Eurazeo, KKR, LBO France, Bain Capital, Alliance Capital and CVC.
Austria’s Wienerberger , the world’s largest brick maker, told Reuters in June that its shareholders would expect it to take a look at the Lafarge unit if it was sold.
Lafarge has hired JP Morgan and Rothschild to advise it on the sale of the underperforming unit which has suffered in recent years because of falling prices in Germany after its post-reunification building boom petered out.
Chief Executive Bruno Lafont said in June he would sell the business if he got a fair price for it and keep a minority stake.
Published under Cement News
