Holcim, HeidelbergCement plan Cement Australia joint venture

ZURICH, March 14 (Reuters) - Holcim is selling 25 percent of the share capital of Cement Australia to Germany's HeidelbergCement and will then operate the company as a joint venture, with each holding a 50 percent stake, Holcim said on Thursday.

Holcim said in a statement the parties had agreed not to disclose the cash purchase price, adding the transaction had already been approved by the Australian authorities.

Cement Australia employs more than 1,000 people and had a turnover of about 1 billion Australian dollars ($1.03 billion)in 2012. ($1 = 0.9716 Australian dollars)