Lafarge has announced that it will sell its 75.86% stake in Lafarge (Pakistan) Cement Limited, identifying Bestway Cement as the buyer. It is reported that about 190 million euros from the transaction will be used to reduce its debt, but the transaction still needs to be approved by the local market and antitrust authorities.
Editor's note: Bestway Cement is owned by Bestway Group, the second largest cash and carry company in the United Kingdom, and is the second largest cement producer in Pakistan. Budweiser Group has invested more than $1 billion in Pakistan and is the largest overseas investor in Pakistan.
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