January 9, 2019 / 3:00 PM / in 12 days

Big investor Nassef Sawiris cuts LafargeHolcim stake

FILE PHOTO: The logo of LafargeHolcim, the world's largest cement maker, is seen at its headquarters in Zurich, Switzerland March 2, 2017. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - One of LafargeHolcim’s (LHN.S) biggest shareholders, Nassef Sawiris, has reduced his stake in the world’s biggest cement maker, the company said on Wednesday, confirming a report by Swiss newspaper Handelszeitung.

The Egyptian tycoon sold nearly 1.6 million shares in the Swiss company in December, when they had a value of more than 66 million Swiss francs, ($67.5 million) the paper said in a report released ahead of publication on Thursday.

Documents from the SIX Swiss Exchange and the French stock market regulator AMF showed the transaction, the newspaper said. LafargeHolcim confirmed the sale, but declined additional comment.

Before the sale Sawaris held 16.58 million shares - equivalent to 2.73 percent - in LafargeHolcim, making him the company’s sixth-largest investor, according to Refinitiv Eikon data.

Reporting by John Revill; Editing by Michael Shields

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