France's Lafarge sells cement business in Ecuador

martes 27 de mayo de 2014 12:12 GYT

PARIS May 27 (Reuters) - Lafarge said it sold its cement operations in Ecuador to Union Andina de Cementos for a total enterprise value of $553 million, helping the French cement maker cut debt.

"This divestment will contribute to Lafarge's objective to reduce net debt below 9 billion euros ($12.25 billion) in 2014," Lafarge said in a statement on Tuesday. ($1 = 0.7345 Euros) (Reporting by James Regan; Editing by Astrid Wendlandt)