LafargeHolcim is selling its 54.3% stake in Cemento Polpaico in Chile to Inversiones Caburga Limitada, a company of the Hurtado Vicuña Group, for $222m.
Cemento Polpaico operates one integrated plant and two grinding plants with an annual cement capacity of 2.3 million tonnes. The company is also a ready-mix concrete producer operating 25 plants and produces aggregates.
The launch of the public tender offer is subject to the approval of the Chilean competition authorities which is expected for the first half of 2017. Following the successful completion LafargeHolcim would exit Chile completely.