LafargeHolcim is to divest its ownership of its Puttalam based Sri Lankan business unit Holcim Lanka to Thailand’s Siam City Cement Public Company Limited for a consideration of US dollars 400 million, the mother company announced Monday (26 July).

While six parties had made their bids, among them two domestic investors were reportedly very keen on this transaction. Though earlier it was claimed that a higher bid had been made on behalf of the Onyx Group - a local company among the two – today they announced that it was only US dollars 261 million. This announcement was made to the media by the corporate communication unit of Ceylon Steel Company on behalf of the Onyx Group.

The ownership of the Onyx group as well as the local Ceylon Steel Company lies with Nandana Lokuvithana. He is also the owner of the super luxury Dubai Marriot Hotel.