French construction giant buys back Asian stakes

18th January 2005, Comments 0 comments

PARIS, Jan 18 (AFP) - French group Lafarge, the world's leading supplier of construction materials, said Tuesday it had bought stakes held by the State of Wisconsin Investment Board in Lafarge's Asian operations for a total of USD 141 million (EUR 108 million).

PARIS, Jan 18 (AFP) - French group Lafarge, the world's leading supplier of construction materials, said Tuesday it had bought stakes held by the State of Wisconsin Investment Board in Lafarge's Asian operations for a total of USD 141 million (EUR 108 million).

The deal is based on partnership accords reached five years ago, Lafarge said in a statement.

It is to retake a 20.3 percent stake in Lafarge Halla Cement in South Korea, bringing its total holding to 71.4 percent.

The French group is also to buy 23.6 percent of Lafarge India Private Ltd for a total holding of 94.4 percent.

Finally, Lafarge plans to acquire the 43 percent of Lafarge Japan Holdings that it does not already own.

© AFP

Subject: French News

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