11. Assets and related liabilities classified as held for sale

On July 11, 2016, the Group announced it had entered into a letter of agreement with Nirma Limited subject to the approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India Pvt. Limited for an enterprise value of USD 1.4 billion. Lafarge India Pvt. Limited owns three cement plants (11 million tons), 72 Ready-Mix plants and two aggregate plants. Lafarge India Pvt. Limited was classified as held for sale on March 31, 2016 further to the supplementary order received from the CCI which requires the Group to comply with the sale of its interest in Lafarge India Pvt. Limited. Lafarge India Pvt. Limited is disclosed in the reportable segment Asia Pacific.

In connection with the transaction with SNI described in note 2.1, the Group company Cimenteries du Cameroun and the joint venture Groupement SCB Lafarge in Benin were classified as held for sale on September 30, 2016 since all corporate and related approvals were received. The reportable segment for Cimenteries du Cameroun is Middle East Africa while the joint venture Groupement SCB Lafarge is not allocated to a reportable segment.

As the sale of the remaining African company, Ciments de Guinée S. A., is still, among other criteria, subject to minority approval, the outcome of which is uncertain, this company has not been classified as held for sale on September 30, 2016.

The assets and related liabilities classified as held for sale are disclosed by major classes of assets and liabilities in the table below.

Million CHF

30.9.2016
Unaudited

31.12.2015
Audited

30.09.2015
Unaudited

Cash and cash equivalents

56

0

3

Inventories

123

0

5

Other current assets

112

0

17

Property, plant and equipment

1,416

772

771

Goodwill and intangible assets

9

0

0

Other long term assets

82

0

1

Assets classified as held for sale

1,798

772

797

 

 

 

 

Current liabilities

225

0

4

Deferred tax liabilities

379

0

1

Other long-term liabilities

35

0

0

Liabilities directly associated with assets classified as held for sale

639

0

5

 

 

 

 

Net assets classified as held for sale

1,159

772

792