LafargeHolcim Is Said to Explore Sale of Brazilian Cement Unit
This content was published on April 21, 2021 - 11:38
April 21, 2021 - 11:38
(Bloomberg) -- LafargeHolcim Ltd., the world’s biggest cement maker, is exploring a sale of its Brazilian unit, which could be valued at as much as $1.5 billion, according to people familiar with the matter.
The Swiss-Franco company has hired Banco Itau BBA to advise on the potential divestment, the people said, asking not to be identified discussing confidential information. LafargeHolcim could sell all its local factories in Brazil to one buyer or split the assets, the people said.
Under Chief Executive Officer Jan Jenisch, LafargeHolcim has been selling off assets that don’t contribute to its core operations in an effort to reduce debt levels. Since a turnaround plan announced in 2018, the Switzerland-based company has sought to prune activities outside Europe in countries including Indonesia and Malaysia.