* Lafarge asset sales total 1.75 bln eur since January 2012
* Shares in Lafarge slip 0.4 pct
(Adds background on debt, share price)
PARIS, Sept 3 France's Lafarge said it
has agreed to sell its cement business in Honduras to Cementos
Argos for 232 million euros ($306 million) as part of
its efforts to cut debt.
The transaction is based on an enterprise value for the unit
of 435 million euros, or 8.6 times 2012 earnings before
interest, tax, depreciation and amortization, the company said
on Tuesday. Lafarge holds a 53.3 percent stake.
The Honduras unit includes an integrated cement plant with a
capacity of 1 million tonnes and a grinding station with a
300,000-tonne capacity, Lafarge said in a statement.
The company has been shedding non-core assets after racking
up debt to buy Egypt's Orascom in 2008, which led to "junk"
ratings from agencies Moody's and Standard & Poor's.
Lafarge agreed earlier this year to sell its North American
gypsum business for $700 million as it seeks to regain its
investment grade, and said it aimed to shrink debt below 10
billion euros this year from 11.88 billion at
Including these last two deals, Lafarge has secured 1.75
billion euros in asset sales since January 2012, a company
Shares in Lafarge, which have lost some 4 percent since the
beginning of the year, were down 0.4 percent at 46.225 euros at
Argos, Colombia's biggest cement maker, is controlled by
Grupo Argos, a holding of companies that is part of the
country's largest industrial conglomerate, the Grupo Empresarial
Antioqueno, or GEA.
($1 = 0.7582 euros)
(Reporting by Natalie Huet; Editing by James Regan)