Disposal of cement, concrete and aggregates assets in Chile.
€750 M of divestments achieved out of a total 2009 target of €1 bn.
Euronext Paris : LG
Lafarge announces the sale of its Chilean cement, aggregates and
concrete assets to the Peruvian Brescia Group for US$555 million
enterprise value, equal to 7.4 times the 2008 EBITDA. Lafarge owns
84% ofthese assets. The transaction is part of Lafarge's global
Lafarge has been present in the Chilean market with cement, concrete
and aggregates activities since 2001 through two entities: Lafarge Chile
SA and Immobiliaria San Patricio. The assets sold include the La Calera
cement plant, which is located around 100km from the capital Santiago
and has capacity of 1.5 milliontonnes, along with the Puerto Montt
grinding station in southern Chile, which has a total capacity of 300,000
tonnes. A second grinding station is currently being built in Ventanas.
Lafarge is also selling 54 ready-mix concrete units, 5 aggregates
quarries, an import terminal and a mortar production unit.
Lafarge Chile SA and Immobiliaria San Patricio are listed on the
Santiago stock exchange.The sale of Lafarge's stake in both these entities will be effective on
August 31st at the latest, following the launch of the public tender to buy
out the minority interests by the buyer for Lafarge Chile SA.
Lafarge's minority participation in its Chilean gypsum activities is not
included in this sale.
Lafarge on track with its divestment plan
This transaction is part of Lafarge's announced2009 €1 billion
In addition to the divestment announced on the 4th of May, Lafarge has
sold assets in its three business lines, including asphalt activities in
Canada and the USA, aggregates and concrete operations in Europe
and North America and its last Turkish cement plant.
The Group has already achieved 3/4 of its 2009 divestment target: €750
million out of the €1billion target announced in February 2009.
Notes to editors
Brescia Group is one of largest business conglomerates from Peru.
The group owns worldwide companies like TASA the first fishmeal
producer with 6% of world demand. Its mining company Minsur is the
third largest world producer of tin and has operations in Peru and Brazil.
Its Peruvian hotel corporation, Libertador, is the firstpremium hotels
chain in the country and has operational agreements with the
international Starwood. On this year they have more than US$100
million on new luxury hotels to be open during 2009 and 2010.
Brescia Group owns real estate companies which build and manage
shopping centers, office buildings, retail stores, and sell urban and
residential properties. The group owns over 2 million ft2 ofrentable area
and approximately 1.5 million ft2 in land area, mainly in the city of Lima.
With BBVA from Spain (50%), it owns Banco BBVA Continental, which
is the second largest bank in Perú and the largest Pension Funds
Administrator. The group is also the owner of Rimac seguros, the first
insurance company in the country and many other important enterprises
on agriculture, fruit exports,welding, explosives, paint and chemicals,
health, construction and other services.
Lafarge is the world leader in building materials, with top-ranking
positions in all of its businesses: Cement, Aggregates & Concrete and
Gypsum. With more than 84,000 employees in 79 countries, Lafarge
posted sales of Euros 19 billion in 2008.
In 2009 and for the fifth year in a row, Lafarge was listed in the‘Global
100 Most Sustainable Corporations in the World'. With the world's
leading building materials research facility, Lafarge places innovation at
the heart of its priorities, working for sustainable construction and
Comunicados de prensa 2009
Eliminación de cemento, concreto y agregados activos en Chile.
€ 750 M, de desinversiones logrado, de un total 2009...