Anglo American and Lafarge sell building assets to Mittal

City A.M. Reporter
Miner Anglo American and cement maker Lafarge said this morning they would sell their UK construction operations to Mittal Investments for £285m.

The divestments include a number of cement operations in the UK, plus the sale of Anglo American unit Tarmac’s 50 per cent ownership interest in Midland Quarry Products Limited.

The sale includes up to £30m paid on the performance of the assets over the next three years.

The sale, to Indian steel tycoon Lakshmi Mittal, was a condition set by the Competition Commission to allow the two companies to combine their building materials activities in the country.