Swiss giant LafargeHolcim sells Malaysia operations for $396m

LafargeHolcim | Mint

LafargeHolcim said it was selling its operations in Malaysia to YTL Cement Berhard for $396 million, the latest divestment by the Swiss cement maker as it retreats from fringe markets.

LafargeHolcim, which last year sold its Indonesian operations in a $1.75 billion deal, said on Thursday it was selling all its 51 per cent holding in its Malaysia business, which included three integrated cement and two grinding plants.

It also agreed to sell its entire 91 percent holding in Holcim Singapore Ltd, a business which had an enterprise value of 68 million Swiss francs ($66.85 million), to YTL Cement Singapore PTE Ltd.

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Reuters