LafargeHolcim engages Citi and JPMorgan to sell Australian and New Zealand operations - The Australian
LafargeHolcim [VTX: LHN] is believed to have engaged Citi and JPMorgan to investigate the sale of its Australia and New Zealand business, The Australian’s Dataroom reported, without citing sources. The report said that neither Citi or JPMorgan would confirm the mandate.
LafargeHolcim has been considering the sale of its Australian and New Zealand operations as part of a larger global asset sell off, the paper noted.
The article stated that JPMorgan and Citi may have been preparing the Australian and New Zealand business for an ASX listing. However, the report said that listing plans have been put on hold due to volatile market conditions.
Plans to sell the company could still be in the works, the paper said. Adelaide Brighton [ASX: ABC] is considered a potential trade buyer.
The Australian