Lafarge has agreed with Boral to sell them its stake in their common Asian Gypsum joint venture Lafarge Boral Gypsum Asia (LBGA) for €429 million, which represents the enterprise value of Lafarge’s 50% stake in the joint venture.
Formed in 2000, LBGA is a 50/50 joint venture between Lafarge and Boral. The company is a leading supplier of plasterboard and other gypsum-related products across Asia, operating throughout 10 countries with 20 production facilities and employing approximately 2100 people. In 2010, LBGA’s sales Group share accounted for €181 million, with an EBITDA Group share of €31 million.
The deal is expected to be completed before the end of the year.
