January 10, 2013 / 3:37 PM / 5 years ago

UPDATE 1-Lafarge confident of meeting disposal target soon

* Lafarge confident of meeting 1 bln eur disposals target

* Has so far secured 80 pct of asset sales target

* Ongoing sale talks for other non-core assets (Adds spokesman comment, details)

PARIS, Jan 10 (Reuters) - Lafarge, the world's largest cement maker, has now hit 80 percent of its 1 billion euros ($1.3 billion) asset sale target for 2012 and hopes to meet the remainder soon, it said.

The company, which earlier on Thursday said it was selling six U.S. quarries as part of the plan to sell non-core operations and cut debt, is in talks with potential buyers to shed other assets, a spokesman said.

Lafarge will provide an update on the divestments with the release of its full-year results on Feb. 20, the spokesman added.

Lafarge is in a drive to hive off non-strategic assets to cut its debt to less than 10 billion euros ($13 billion) and slated disposals worth 1 billion euros in 2012 af ter losing its investment grade debt rating in 2011.

S hares in Lafarge, which have gained around 77 percent in the last 12 months, were trading 1.4 percent higher at 46.29 euros at 1457 GMT, outperforming the CAC40 index, up 0.2 percent. ($1 = 0.7667 euros) (Reporting by Elena Berton and Gilles Guillaume; Editing by James Regan and Christian Plumb)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below