Honduras: Lafarge has sold its cement operations in Honduras to Cementos Argos for Euro232m. Sold assets include a 1Mt/yr cement plant and a 0.3Mt/yr grinding plant. The sale is subject to regulatory approval.
The transaction had a total enterprise value of Euro435m based on a 2012 earnings before interest, tax, depreciation and amortisation (EBITDA) multiple of 8.6. Lafarge owns 53.3% of its Honduran subsidiary, Lafarge Cementos SA de CV.