November 16, 2012 / 7:21 AM / 5 years ago

Lafarge and Anglo American sell UK assets to Mittal

PARIS, Nov 16 (Reuters) - Lafarge, the world’s biggest cement maker, and mining company Anglo American on Friday said they had agreed to sell a number of UK assets to the family of Indian steel tycoon Lakshmi Mittal for up to 285 pounds sterling.

The two companies said they would sell Mittal a portfolio of Tarmac and Lafarge construction materials operations in the UK and Tarmac’s 50 percent ownership interest in Midland Quarry Products Limited (MQP).

They said deal would lead to an upfront payment of 272 million pounds sterling which included up to 30 million pounds sterling contingent on the performance of the underlying assets over the next three years.

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