Lafarge looking to sell South Korean unit

Lafarge looking to sell South Korean unit
12 December 2012

Lafarge is seeking to sell its majority stake in South Korean unit Lafarge Halla Cement for KRW700bn (US$650m) and is currently searching for buyers, according to a report by Reuters citing South Korean online media Edaily.

The company is said to have chosen US-based Lazard and HSBC’s South Korean unit as managers for the sale.

Lafarge operates one integrated cement works and two grinding plants in South Korea with a combined cement capacity of 9.6Mta. In 2011, it had an approximate market share of 13 per cent, according to company estimates.

Published under Cement News