July 17, 2015 / 9:25 AM / 4 years ago

LafargeHolcim says buys Lafarge Tarmac stake ahead of disposal

ZURICH (Reuters) - LafargeHolcim said on Friday it had bought out a 50 percent stake in Lafarge Tarmac held by Anglo American so it can sell the U.K. building materials company to CRH to meet regulatory requirements.

The world’s largest cement maker, formed from the merger of Lafarge and Holcim this year, said it paid 992 million pounds ($1.55 billion) to buy the half of Lafarge Tarmac it does not already own.

“This step is required to allow for the full divestment of Lafarge Tarmac, with the exception of the Cauldon and Cookstown plants and certain non-operational properties to CRH as part of the divestment of several assets in Europe, Canada, Brazil and the Philippines,” the company said in a statement.

Reporting by Oliver Hirt; writing by Katharina Bart; editing by David Clarke

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