Anglo American PLC AAL Anglo American and Lafarge announcement

  Anglo American PLC (AAL) - Anglo American and Lafarge announcement

RNS Number : 2804R
Anglo American PLC
16 November 2012




        
16 November 2012



Anglo American and Lafarge announce the sale of a portfolio of Tarmac and
Lafarge construction materials operations in the UK to Mittal Investments
generating cash of up to £285 million



Lafarge SA and Anglo  American plc announce  that they have  agreed to sell  a 
portfolio of Tarmac and  Lafarge construction materials  operations in the  UK 
and Tarmac's 50% ownership interest  in Midland Quarry Products Limited  (MQP) 
to Mittal Investments, the private investment vehicle of the Lakshmi N. Mittal
family. The consideration paid  by Mittal Investments for  the assets is  £272 
million including  up to  £30 million  contingent on  the performance  of  the 
underlying assets over the next three years. In addition, an estimated  amount 
of £13 million, which  relates to working capital  of the divested assets  not 
transferring with the business, will be released as funding to the 50:50 joint
venture between Lafarge and Tarmac.



The divestments, which are conditional upon regulatory approval, comprise:

- a cement  plant in  Hope, Derbyshire, with  a capacity  of 1.4  million 
tonnes, and related depots;

- a network of 172 ready mix concrete plants;

- five aggregates  quarries, two  asphalt plants,  one marine  aggregates 
wharf and one rail-linked aggregates depot; and

- the sale of Tarmac 50% ownership interest in MQP, which is also subject
to regulatory approval and a right  of pre-emption in favour of Hanson  Quarry 
Products Europe Limited.



The sale  of  these assets  is  the  principal condition  to  receiving  final 
clearance from the Competition Commission for  the formation of a 50:50  joint 
venture,  which  will  combine  Tarmac's  and  Lafarge's  cement,  aggregates, 
ready-mixed concrete, asphalt and asphalt surfacing and maintenance  services, 
and waste services businesses in the United Kingdom (the "JV").



Completion of the JV is expected in  early 2013 and once established, it  will 
create a new, leading UK construction  materials company, with a portfolio  of 
high quality assets, drawing on the complementary geographical distribution of
operations, the skills of two experienced management teams, and a portfolio of
well-recognised, innovative brands.



The transaction announced today is a major step towards finalising this JV.  A 
further announcement will be made in due course.



For further information, please contact:



Anglo American

Media                     Investors
                         

James Wyatt-Tilby          Leng Lau

Tel: +44 (0)20 7968 8759   Tel: +44 (0)20 7968 8540

                           
Emily Blyth               Sarah McNally

Tel: +44 (0)20 7968 8481   Tel: +44 (0)20 7968 8747







Lafarge

Media
Investors

Caroline
Ryan
Stéphanie Billet

Tel: + 33(0) 1 44 34 92
51 Tel: +33 (0) 1 44 34
9371



Mélanie
CoviauxDanièle
Daouphars 

Tel: +33(0) 1 44 34 18
18Tel: +33 (0) 1 44 34
11 51



Caroline
WinklerLaurence
Le Gouguec

Tel: + 33(0) 1 44 34 11
70Tel: +33 (0) 1 44 34
94 59





                              Notes to editors:



Anglo  American  is  one   of  the  world's   largest  mining  companies,   is 
headquartered in  the UK  and  listed on  the  London and  Johannesburg  stock 
exchanges.  Anglo  American's  portfolio  of  mining  businesses  spans   bulk 
commodities - iron  ore and  manganese, metallurgical coal  and thermal  coal; 
base metals - copper and nickel; and  precious metals and minerals - in  which 
it is  a global  leader in  both  platinum and  diamonds. Anglo  American  is 
committed to the highest standards of safety and responsibility across all its
businesses and  geographies and  to  making a  sustainable difference  in  the 
development of the  communities around  its operations.  The company's  mining 
operations, extensive pipeline of  growth projects and exploration  activities 
span southern  Africa,  South  America, Australia,  North  America,  Asia  and 
Europe. www.angloamerican.com



Lafargeis the world leader in building materials, with top-ranking  positions 
in all  of its  businesses: Cement,  Aggregates &  Concrete and  Gypsum.  With 
76,000 employees in 78 countries, Lafarge  posted sales of Euros 16.2  billion 
in 2010. Lafarge was ranked 6th in the "Carbon Disclosure Project" and entered
the global "Dow  Jones Sustainability  Index" in  2010 in  recognition of  its 
sustainable development actions. With  the world's leading building  materials 
research facility, Lafarge places innovation  at the heart of its  priorities, 
working for sustainable construction and architectural creativity.  Additional 
information is available on the web site atwww.lafarge.com



                     This information is provided by RNS
           The company news service from the London Stock Exchange

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MSCZMMMMRKVGZZM -0- Nov/16/2012 07:00 GMT
 
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