Anglo American receives total cash proceeds of $1.6 billion for sale of 50% interest in Lafarge Tarmac
17 July, 2015
Anglo American plc ("Anglo American") announces that it has completed the sale of its 50% ownership interest in Lafarge Tarmac Holdings Limited ("Lafarge Tarmac") to Lafarge SA ("Lafarge"). Anglo American has received cash proceeds of approximately £992 million ($1,559 million), constituting the agreed minimum consideration of £885 million set out in the July 2014 binding agreement and approximately £107 million of working capital and other adjustments, subject to certain post-closing adjustments.
The completion of this transaction brings the aggregate proceeds received by Anglo American for the sale of its Tarmac assets to approximately $2.5 billion since 2008.