PE firms cement purchase of Lafarge Korea unit

Glenwood and Baring Private Equity Asia are paying $478 million for the business, the latest private equity foray into the country's distressed cement industry.

LafargeHolcim has agreed to sell its South Korean unit Lafarge Halla to Glenwood and Baring Private Equity Asia in a deal worth W560 billion $478.48 million, the latest private equity foray into the country’s cement industry.

The Swiss building materials company confirmed the divestment in its annual report, which was released on Thursday. LafargeHolcim said it expects to close the sale of Lafarge Halla, Korea’s fifth-largest cement producer, in the second quarter of 2016, subject to final approvals.

The sale follows several other ownership changes among Korean cement companies, which look set to herald a round of consolidation within the fragmented industry....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222