Lafarge, Holcim Sell Stake in Vene Operations

French construction materials holding Lafarge has signed a memorandum of understanding with the Venezuelan government to sell 89% of the company’s assets in Venezuela for $267m, a Lafarge spokeswoman says. At the same time, the government signed an agreement with Swiss cement company Holcim to buy 85% of its assets in Venezuela, although final price is still being discussed, a company spokesman says. The contract is expected to be finalized in the following weeks, the company adds. Holcim’s Venezuelan branch reported sales of $200m in 2007.