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Mexico: Elementia to buy out Lafarge JV

 |  July 15, 2014

Carlos Slim-based Elementia is reportedly in discussions to buy out partner Lafarge’s stake in the cement giants’ joint venture in Mexico, reports say.

Unnamed sources said Slim- and Antonio del Valle-backed Elementia may pursue the acquisition of Lafarge’s 47 percent stake in their joint venture so Lafarge can avoid competing with itself following the planned merger with Holcim. Holcim already operates in Mexico, reports say.

According to one source, Lafarge’s stake could be worth up to $500 million but will not likely fetch such a price tag due to Elementia’s limited bargaining power.

Full content: Bloomberg

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