May 9, 2019 / 5:16 PM / 2 months ago

BRIEF-Lafargeholcim Divests Activities In Philippines

May 9 (Reuters) - LafargeHolcim Ltd:

* LAFARGEHOLCIM SAYS LAFARGEHOLCIM DIVESTS ACTIVITIES IN PHILIPPINES

* SIGNED DEAL WITH SAN MIGUEL FOR DIVESTMENT OF ENTIRE 85.7 PERCENT SHAREHOLDING IN HOLCIM PHILIPPINES FOR ENTERPRISE VALUE OF $2.15 BILLION

* CLOSING OF TRANSACTION IS EXPECTED IN Q4 2019

* PROCEEDS OF TRANSACTION WILL ALLOW LAFARGEHOLCIM TO FURTHER IMPROVE ITS DEBT RATIO BY APPROXIMATELY 0.3 TIMES

* WITH DIVESTMENT, CO COMPLETING EXIT FROM SOUTH EAST ASIA

* "WE WILL HAVE OVER PERFORMED OUR TARGET RATIO OF NET DEBT TO RECURRING EBITDA OF 2 TIMES OR LESS BY END OF 2019" Further company coverage:

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