Deals
Lafarge Proposes to Sell Assets Worth $450 Million to Summit
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Lafarge SA agreed to sell a cement plant in Iowa and seven distribution terminals on the Mississippi river to Summit Materials Inc. for $450 million as part of a plan to win antitrust approval for its planned merger with Swiss rival Holcim Ltd.
Under the agreement, Paris-based Lafarge would receive a Summit cement terminal in Iowa, Lafarge and Holcim said in a joint statement Friday. Holcim is also offering to sell three terminals in Michigan and Illinois, grinding stations in Illinois and in New Jersey, and a terminal in Massachusetts, the statement said.