Mittal InvestmentsCompany to buy cement assets in UK

Published Nov 19, 2012

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Lafarge and Anglo American have agreed to sell assets in the UK for £272 million (R3.8 billion) to Mittal Investments as they seek antitrust approval for the merger of some of their British operations. In addition, an estimated £13 million relating to working capital of the divested assets would be released to the newly formed joint venture between the French cement maker and Anglo American’s Tarmac, Paris-based Lafarge and London-based Anglo said in a statement on Friday. The sale of these assets, including a cement plant, 172 ready-mix concrete plants, aggregates quarries, and other facilities, “is the principal condition to receiving final clearance from the Competition Commission for the formation” of the venture, which was expected in early 2013, they said. – Bloomberg

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