Lafarge to get RM565m from Sale

17.07.2010
 

17 July 2010 (The Star)

 

PETALING JAYA: Lafarge will receive net proceeds of 141 million euro (RM565mil) from the sale of 11.2% in Lafarge Malayan Cement Bhd (LMCB) by way of a placement done on Bursa Malaysia Securities Bhd, according to a statement via Business Wire.

 

“Lafarge keeps the management control of the Malaysian activities and remains the majority shareholder with a 51% controlling shareholding in LMCB via its subsidiaries, Lafarge Cement UK plc and Associated International Cement Ltd,” it said.

 

“The net proceeds of 141 million euro will contribute to Lafarge’s divestment programme for the year 2010 that was announced in February.”

 

LMCB shares rose 16 sen to close at RM6.64 yesterday.