Lafarge said Tuesday it paid US$141m to buy out minority holdings retained by the State of Wisconsin Investment Board in its businesses in South Korea, India and Japan. In a statement, Paris-based Lafarge said the move was in line with the expiry of partnership accords struck with SWIB five years ago. Under terms of the buyout, Lafarge is buying a 20.3 per cent stake in Lafarge Halla Cement in South Korea, lifting its total stake to 71.4 per cent. It’s also acquiring a 23.6 per cent stake in Lafarge India Private Ltd, upping its total holding to 94.4 per cent. Lastly, Lafarge is buying a 43 per cent stake in Lafarge Japan Holdings, taking 100 per cent control of the business. Published under Cement News
Lafarge said Tuesday it paid US$141m to buy out minority holdings retained by the State of Wisconsin Investment Board in its businesses in South Korea, India and Japan. In a statement, Paris-based Lafarge said the move was in line with the expiry of partnership accords struck with SWIB five years ago. Under terms of the buyout, Lafarge is buying a 20.3 per cent stake in Lafarge Halla Cement in South Korea, lifting its total stake to 71.4 per cent. It’s also acquiring a 23.6 per cent stake in Lafarge India Private Ltd, upping its total holding to 94.4 per cent. Lastly, Lafarge is buying a 43 per cent stake in Lafarge Japan Holdings, taking 100 per cent control of the business. Published under Cement News
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