LAFARGE SELLS SUBSIDIARY FOR RM28 MILLION
PETALING JAYA: Lafarge Malaysia Bhd is disposing of its 100% stake in Lafarge Aggregates (Ipoh) Sdn Bhd (LAI) for RM28 million. In a filing with the stock exchange, the cement manufacturer said its subsidiary Lafarge Aggregates Sdn Bhd had entered into a share sale agreement with Cabaran Premix Sdn Bhd for the disposal exercise. Large said the disposal is part of its strategic plan to dispose of its assets with lower returns and to generate cash to invest in assets which would generate better returns and have greater strategic importance. The proceeds from the disposal will be utilised for the group’s working capital and investment purposes.