LafargeHolcim divests activities in Malaysia and Singapore ...
LafargeHolcim has signed an agreement with YTL Cement Berhad for the divestment of its entire 51 % shareholding in Lafarge Malaysia Berhad for a consideration of US$ 396 million fully payable in cash, corresponding to MYR 3.75 per share. This price represents a premium of 43 % compared to the last 90 days trading period of Lafarge Malaysia Berhad on the Malaysian stock exchange.
Lafarge Malaysia Berhad operates three integrated cement and two grinding plants. With the divestment, LafargeHolcim will fully exit the Malaysian market. YTL Cement Berhad is part of YTL Corporation Berhad, a Malaysian infrastructure conglomerate, which is mainly active in cement production, construction, property development and utilities.
Additionally, LafargeHolcim has signed an agreement with YTL Cement Singapore PTE Ltd for the divestment of its entire 91 % shareholding in Holcim Singapore Ltd.
The proceeds of both transactions will allow LafargeHolcim to further improve its debt ratio by approximately 0.1 times, contributing to reach its target ratio of Net Debt to Recurring EBITDA of 2 times or less* by the end of 2019.
Closing of the transaction is expected within Q2, 2019 and is subject to customary approvals.