Lafarge Reaps $700M For Gypsum Biz In Ongoing Asset Sale

Law360, New York (June 24, 2013, 4:37 PM EDT) -- Cement major Lafarge is unloading its North American gypsum assets to an affiliate of Texas private equity firm Lone Star Funds for $700 million as it tries to consolidate its business to central operations and hack down debt, it said Monday.

News of the deal comes after much speculation over the weekend that the pair was closing in on an agreement. The firms did not disclose the financial terms of their transaction, saying in a brief statement only that they expected to button it up “very...
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