Lafarge selects few bids for plaster business

Lafarge selects few bids for plaster business
26 May 2011

Lafarge has chosen a handful of bids, including those of investment funds Cinven and Bain Capital, for its plaster unit Lafarge Gypsum, among at least 10 offers, according to Bloomberg.

Belgian building material group Etex is also reportedly still in the race, while Advent, Carlyle and TPG have been ruled out.

According to sources close to the matter, quoted by French daily Les Echos, the amount of the bids ranges around EUR900m on average.

Lafarge Gypsum’s operating profit jumped 80% on the year in the first quarter to EUR18m, while sales rose 9% to EUR375m. The US activity, however, struggled with a loss in 2010.
Published under Cement News