Member Article

Anglo American announces sale of Lafarge Tarmac for £885 million

Mining firm Anglo American has sold its 50% stake in Lafarge Tarmac business to French concrete supplier Lafarge in a deal worth £885 million.

The cash deal is subject to the terms of completion of Lafarge’s merger with Swiss concrete specialists Holcim.

Lafarge Tarmac, which operates over 20 sites in the North East, is expected to complete the Holcim merger in first half of 2015.

A statement to Anglo American shareholders read: “Under the terms of the in principle agreement, which is not legally binding, the sale will be subject to a number of conditions including the completion of the Lafarge /Holcim merger, the divestment of Lafarge Tarmac being accepted as a suitable remedy and approval of this sale transaction by the necessary regulators.”

This was posted in Bdaily's Members' News section by Tom Keighley .