YTL buys rival Lafarge Malaysia

PETALING JAYA: In a corporate move that will see further consolidation of the local cement industry, YTL Corp Bhd has sealed a deal to acquire LafargeHolcim’s entire 51% stake in Lafarge Malaysia Bhd (LMB) for US$396mil (RM1.625bil).

The acquisition will be carried out via YTL’s unit – YTL Cement Bhd – and will subsequently see Swiss-based LafargeHolcim exiting the Malaysian building material scene completely. The takeover will also see YTL shaping up to be the largest cement company in Malaysia.