Lafarge sells Pakistan cement operations

Lafarge announced the sale of its cement operations in Pakistan for an enterprise value of US$329m to local producer Bestway Cement.

Lafarge Pakistan Cement Ltd, in which Lafarge owns a 75.86 per cent stake, operates an integrated cement plant located close to Islamabad in the north of the country.

The divestment contributes to Lafarge’s net debt reduction goals, the company said in a statement.

Completion of the deal is subject to regulatory approval.