(MENAFN) Anglo American Plc, the global miner, said it would sell of its 50 percent stake in Lafarge Tarmac to Lafarge for a minimum of USD1.2 billion in cash, The Peninsula Qatar reported.
Anglo American said the sale would be subject to a number of conditions including the completion of the Lafarge-Holcim merger, as the miner said it expects to use the proceeds to pay down debt.
It is noted that Lafarge Tarmac was formed as a 50-50 joint venture between Lafarge UK and Anglo American's Tarmac business.
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