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U.K.: Cement, mining cos sell assets to merge

 |  November 16, 2012

Lafarge and Anglo American have agreed to sell $452 million in assets to remedy concerns by the Competition Commission in efforts to merge. Lafarge, a cement maker, and Anglo America, a mining company, agreed to sell construction materials operations in the U.K., as well as other remedies. Anglo will sell its unit Tarmac’s fifty-percent stake in Midland Quarry Products. Lafarge expects to earn about $205 million from the deal, which will be used to ease debts.

Full Content: Business Report

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