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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Loews Corporation | NYSE:L | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.03 | -0.04% | 76.50 | 76.54 | 75.44 | 76.38 | 588,722 | 00:30:08 |
From May 2019 to May 2024
LONDON--Anglo American PLC (AAL.LN) said Monday it would sell its 50% interest in Lafarge Tarmac Holdings Ltd. to Lafarge SA (LG.FR) for a minimum GBP885 million ($1.5 billion), subject to the success of Lafarge's pending merger with Holcim Ltd. (HCMLY).
The U.K.-listed diversifed miner is offering to sell its Lafarge Tarmac stake now because Lafarge intends to offer the entire joint venture as part of its divestment proposal to the European Commission, in order to secure regulatory approval for its merger with Holcim.
Lafarge Tarmac was formed in Jannuary 2013 following the merger of Anglo American and Lafarge's cement, aggregates, ready-mixed concrete, asphalt and maintenance services and waste services businesses in the U.K.
Lafarge and Holcim have announced that they expect the merger to be completed in the first half of 2015. Anglo American and Lafarge will work toward finalizing the terms of a definitive agreement on Lafarge Tarmac in the third quarter of 2014.
Write to Alex MacDonald at alex.macdonald@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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