LafargeHolcim CEO Plans Asset Sales of $3.6 Billion In 2016

By John Revill

ZURICH - LafargeHolcim Ltd (LHN.VX) wants to raise 3.5 billion Swiss francs ($3.6 billion) in 2016 from selling off cement assets around the world, Chief Executive Eric Olsen said Wednesday.

The Jona-Switzerland-based building materials giant has already begun discussions with interested parties, including private equity and other companies in the sector about some of the assets, Mr. Olsen said.

He declined to reveal where or what would be sold, but said considerations included the long-term potential of the local market as well as LafargeHolcim's position in each country.

"We have a position of number 1, 2 or 3 in 70% of our markets," said Mr. Olsen. "Where we don't have that position we are looking at divesting or swapping assets," he told reporters on a conference call.

Money raised from the sales would be used to pay down debt, as well as returning cash to shareholders through increased dividends and share buybacks, Mr. Olsen said.

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November 25, 2015 02:35 ET (07:35 GMT)

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