Lafarge Parent May Sell Small Stake

03.07.2010
 

Saturday July 3, 2010

 

PETALING JAYA: Lafarge Malaysia Cement Bhd (LMC) said its parent firm Lafarge SA has decided to explore the potential sale of a minority interest of up to 11.2% in LMC.

 

Lafarge has a 62.2% stake in LMCB via its subsidiaries, Lafarge Cement UK Plc and Associated International Cement Ltd, it told Bursa Malaysia yesterday.

 

The company did not identify any potential buyer.

 

"Lafarge would remain the majority shareholder, with a minimum 51% shareholding and management control of LMCB," it said, adding that "this transaction would contribute to Lafarge's divestment programme this year.''