US: Lafarge has announced that is preparing the sale of its North American gypsum business to US private equity firm Lone Star in a deal worth an enterprise value of US$700m.
Lafarge North America's Gypsum division manufactures gypsum wallboards and joint compounds throughout a network of plants in the United States and Canada, including three US gypsum wallboard plants. In 2012, these operations generated sales of US$310m. The assets have been held for sale in the Lafarge's consolidated balance sheet since 2011.
This transaction, which is expected to close very soon, is subject to the satisfaction of customary closing conditions.
Global building materials producer Lafarge reduced its net debt by Euro700m in 2012 to Euro11.3bn. It sold the majority of its worldwide gypsum business – in Asia, Europe, South America and Australia – to Boral and Etex in 2011. Lafarge retains a 20% stake in the joint venture with Etex.
