Anglo American PLC And Lafarge SA Announces Completion Of 50:50 Joint Venture

Anglo American PLC and Lafarge announced the completion of their 50:50 joint venture, creating the UK’s construction materials company Anglo American and Lafarge announced the completion of their 50:50 joint venture which will combine their cement, aggregates, ready-mix concrete, asphalt and asphalt surfacing, maintenance services, and waste services businesses in the United Kingdom. The joint venture will be known as Lafarge Tarmac and begins trading on January 8, 2013. Completion of the Lafarge Tarmac joint venture follows final clearance from the UK Competition Commission, predicated on the completed sale of a portfolio of Tarmac and Lafarge construction materials operations in the UK, which occurred on January 8, 2013. The agreed sale of Tarmac’s 50% ownership interest in Midland Quarry Products is subject to a right of pre-emption in favour of Hanson Quarry Products Europe Limited and, as a result, the completion of this transaction is pending. As announced on November 23, 2012, the Lafarge Tarmac leadership team includes Jamie Pike as Non-Executive Chairman, Cyrille Ragoucy as CEO and Guy Young as CFO.