Lafarge confirms $700 mln N.American gypsum unit sale

PARIS, June 24 Mon Jun 24, 2013 9:50am EDT

PARIS, June 24 (Reuters) - Lafarge confirmed on Monday it had agreed to sell its North American gypsum unit for $700 million to private equity firm Lone Star as part of its plan to divest non-core activities and cut debt.

Two sources with knowledge of the matter had told Reuters earlier on Monday that the French cement maker was close to selling the business to Lone Star in a deal worth about $700 million. {ID:nL5N0F01X9]

The transaction is expected to close "very soon", Lafarge said in a statement.

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