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Lafarge confirmed on Monday after months of speculation that it was selling its specialty products unit to private equity firms CVC Capital Partners and Advent International.

Lafarge said in a statement that the deal values the unit at 890 million euros. As part of the deal Lafarge said it would taking 33.34 percent -- a minority blocking stake -- of a new company to be created with the equity firms.

Click on the news link at the top of this page to read the full press release.

Keep Foolish and Prosper,

Spirit
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