Lafarge to sell Honduran businesses

Lafarge is to sell its cement operations in Honduras to Cementos Argos. The deal is worth € 435 million (US$ 580 million) and Lafarge will receive € 232 million (US$ 360 million) for its 53.3% stake in the company.

The assets being sold comprise a 1 million tonne per year cement plant and a 300,000 tonnes per year grinding facility. The deal is subject to regulatory approval.

This is not the first time Lafarge has divested assets to Cementos Argos. In May 2011 it sold a series of cement plants in the south-east US to the Colombian company for US$ 750 million. Cementos Argos is thought to be the fifth largest cement producer in Latin America.