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| Name | Symbol | Market | Type |
|---|---|---|---|
| Holcim Ltd (PK) | USOTC:HCMLY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.21 | 1.23% | 17.26 | 16.92 | 17.55 | 17.29 | 17.20 | 17.29 | 60,071 | 21:00:23 |
From May 2019 to May 2024
By Inti Landauro
PARIS--French cement company Lafarge SA (LG.FR), which is merging with Swiss rival Holcim Ltd. (HOLN.VX), said Friday that it has sold the minority stake it held in a Mexican cement company to its local partner.
Lafarge said it sold 47% in a company that operates three cement plants in central Mexico for $225 million in cash to Elementia. The sale needs to be approved by Mexican anti-trust authorities.
Lafarge will use the proceeds of the transaction to pay back part of its debt. The French company seeks to cut its net debt to below 9 billion euros ($11.59 billion) from EUR11.2 billion at the end of June 2013. Lafarge is still recovering from the financial crisis, when the weight of its debt threatened its operations.
In May, Lafarge and rival Holcim announced a plan to merge their operations, saying they would sell assets that generate about EUR5 billion in annual earnings before interest, taxes, depreciation and amortization.
Write to Inti Landauro at inti.landauro@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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