Economy & Market

Frances Lafarge sells Pakistan cement business

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Lafarge (France) will be selling its Lafarge Pakistan Cement plant to BestWay Cement. BestWay is a Karachi-listed enterprise in Pakistan and will be acquiring 76 per cent stake in the company with an investment of US$329 mn.

Lafarge Pakistan Cement is listed on the Karachi, Lahore and Islamabad stock exchanges. This offloading of assets will contribute to Lafarge?s net debt reduction objective.

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