Around 10 candidates including investment funds and industry players are in the running to purchase Lafarge's (LAFP.PA) plaster activities, with a first round of offers due on Thursday, Les Echos reported. A Lafarge spokeswoman declined to comment. The paper said the industrial players interested were mainly American companies, including Eagle Materials (EXP.N), US Gypsum and National Gypsum, as well as Belgian construction materials group Etex. Five investment companies -- KKR, Carlyle, Cinven, Advent and TPG -- are also in the running, the paper said. The funds and Etex are more interested in Lafarge's European plaster operations while National Gypsum would focus on the U.S. part, Les Echos said. Les Echos said Lafarge valued the European arm of the division at around 800 million euros ($1.15 billion) and the American part at about 400 million euros, estimates which the funds considered high.
Eagle Materials Inc. (EXP) is engaged in manufacture and distribution of gypsum wallboard, and the manufacture and sale of cement. Shares of EXP fell by 1.42% or $-0.39/share to $27.03. In the past year, the shares have traded as low as $21.16 and as high as $33.22. On average, 309353 shares of EXP exchange hands on a given day and today's volume is recorded at 149177.
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