Lafarge and Cemex announce that they have signed today a Letter of Intent to terminate their 50/50 joint venture in Readymix Asland (RMA) in Spain, and Betecna Betao Pronto (BETECNA) in Portugal.
This transaction is subject to the approval by the relevant competition authorities.
With 122 concrete plants and 12 aggregates quarries, RMA is today the leader of the Spanish concrete market.
BETECNA is composed of 40 concrete plants and 4 aggregates quarries, and is one of the leading suppliers of concrete and aggregates in the Portuguese market.
According to the terms of this agreement, Lafarge Asland will hold 100% of the shares of both RMA and BETECNA. Cemex will retain 28 concrete plants and 6 aggregates quarries from RMA in Spain, plus will receive approximately 50 M EUR in cash.