Lafarge to buy Orascom Cement in $12.8bn deal
Paris, December 10, 2007
Lafarge, the world's biggest cement maker, said it had agreed to buy Orascom Cement for 8.8 billion euros ($12.81 billion).
The deal would boost its earnings and exposure to high-growth emerging markets, it said.
Lafarge said that as part of the acquisition, it would take on 1.4 billion euros of debt.
The deal will also see Egyptian businessman Nassef Sawiris take an 11.4 percent stake in Lafarge.
Orascom Cement is a unit of Egypt's Orascom Construction Industries. - Reuters
More Industry, Logistics & Shipping Stories
- IAA re-boots for 75th anniversary
- Bahrain port welcomes largest container vessel
- Dubai gold refiner wins ISO certification
- DP World extends maturity date on $1bn loan
- HK apparel group inks tenancy deal with BIO
- DHL wins ‘best employer' award
- Drydocks to host top shipping forum in Dubai
- DHL holds family fun day
- DMCA begins issuing marine driver’s licence
- RSA-Talke to set up storage facility in Dubai