LafargeHolcim Agrees Sale Of 54.3% Interest In Cemento Polpaico In Chile

(RTTNews) - LafargeHolcim (HCMLY.PK, HCMLF.PK) announced that it has agreed with Inversiones Caburga Limitada for divestment of 54.3 percent interest in Cemento Polpaico in Chile for an enterprise value of about 220 million Swiss francs (on a 100 per cent basis) through public tender offer to all shareholders of Cemento Polpaico.

LafargeHolcim said that the launch of the public tender offer is subject to the approval of the Chilean competition authorities which is expected for the first half of 2017. Following the successful completion LafargeHolcim would exit Chile completely.

LafargeHolcim said that it has exceeded its divestment target of 3.5 billion Swiss francs for 2016. The Group announced in August that it would be extending the program to 5 billion Swiss francs which it expects to complete by the end of 2017.