KKR and Advent circling Lafarge gypsum arm

Lafarge has launched a sale process of its entire gypsum division, which is present in 70 countries and employs 8,000 staff, and might consider breaking it up to attract more interest. The European assets alone could reportedly be worth up to €900m, and generated a turnover in the region of €700m last year.

The sale comes as part of a move by Lafarge to divest its non-core assets, as the French cement maker - the second largest in the world by sales - is trying to cut down its €16bn debt burden. Lafarge's credit rating was downgraded to junk by Standard & Poor last month, mainly due to the group's exposure to the Middle East.

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• Topics
• Buyouts
• Industrials
• KKR
• Advent International