KUALA LUMPUR: YTL Corp Bhd said its cement manufacturing arm, YTL Cement Bhd, has agreed to acquire LafargeHolcim's entire 51% stake in Lafarge Malaysia Bhd for US$396mil.
The purchase price valued Lafarge Malaysia at RM3.75 a share.
"With the divestment, LafargeHolcim will fully exit the Malaysian market," the Switzerland-based company said in a statement posted on its website today.
The price valued Lafarge Malaysia at a 43% premium compared to the last 90 days trading period. The stock was last traded at RM3.25 at the midday break on Thursday.
Additionally, LafargeHolcim has signed an agreement with YTL Cement Singapore PTE Ltd for the divestment of its entire 91% shareholding in Holcim Singapore Ltd.
LafargeHolcim expects to complete the disposals within the second quarter of this year.