Cementir Holding completes the acquisition of an additional 38.75% stake in Lehigh White Cement Company
Rome, 29 March 2018 – Cementir Holding completes today the acquisition of an additional 38.75% stake in Lehigh White Cement Company (“LWCC”), from Lehigh Cement Company LLC, a subsidiary of HeidelbergCement AG.
The acquisition, announced on 14 February 2018, has a total consideration of USD 106.6 million, on a cash and debt-free basis, totally paid today. After this transaction, Cementir will hold a stake of 63.25% in LWCC, while the remaining 36.75% will be owned by Cemex Inc.
This acquisition allows Cementir to directly manage assets in the United States in the core white cement business, reinforcing its global leadership and supporting its growth strategy.