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France/Colombia: Lafarge makes new move to reduce debt with $306M sell-off

 |  September 3, 2013

France-based cement company Lafarge reportedly reached a deal to sell its Honduras-based unit to Colombia’s Cementos Argos in a $306 million transaction. The move, say reports, is part of Lafarge’s efforts to reduce debts.

The Colombian company will acquire Lafarge’s 53.3 percent ownership; Cementos Argos similarly bought Lafarge’s US assets in 2011.

The deal remains subject to regulatory approval.

At its peak, Lafarge’s debt reached into $22.2 billion in 2008.

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