Photo by: Bloomberg
JOHANNESBURG (miningweekly.com) – Diversified mining major Anglo American has reached a binding agreement for the £885-million sale of its 50% interest in the Lafarge Tarmac joint venture (JV) to cement producer Lafarge.
Lafarge Tarmac, formed in January 2013, is a 50:50 JV between Lafarge and Anglo American’s construction materials and services businesses in the UK.
The deal between Anglo American and Lafarge remained subject to regulatory approval and the divestment of Lafarge Tarmac being accepted as a suitable remedy for the UK market in respect of the merger, as well as to the conclusion of the Lafarge/Holcim merger, which was expected in the first half of 2015.