Home » Business » Real Estate
Lafarge set to buy full stake in China unit
LEADING French building material company, Lafarge, has signed an agreement to buy a 45 percent stake in its Chinese subsidiary Lafarge Shui On Cement held by SOCAM Development Ltd, the company said yesterday.
Under the agreement, the French group, already owner of 55 percent stake of Lafarge Shui On Cement, offered 294 million euros (US$328 million) to buy the full stake.
The production capacity of Lafarge Shui On Cement stands at 32 million tons in the provinces of Yunnan, Sichuan and Guizhou and Chongqing City.
In a statement, the French company said the deal was subject to the successful completion of the merger with Swiss company, Holcim, and to the shareholders’ approval of the Hong Kong-based investment holding company.
Lafarge posted sales at 12.8 billion euros in 2014.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.