December 7, 2006
PAI partners SAS agrees to acquire the roofing division of Lafarge SAS for $3.2 billion (€2.4 billion) in cash and liabilities assumed.
On December 4, it was announced that Willkie client PAI partners SAS agreed to acquire the roofing division of Lafarge SAS for $3.2 billion (€2.4 billion) in cash and liabilities assumed. Based near Frankfurt, the roofing division, which accounts for about 10 percent of Lafarge's annual revenue and employs about 12,000 people, is the world’s leading maker of clay and concrete tiles. By divesting the division, Lafarge plans to focus on its cement operations and heavy-side building materials business. PAI partners is one of the oldest private equity firms in Europe, managing and advising on funds totaling more than €7 billion. The Willkie team advising PAI includes Jochen Winter and Michael Bernhardt in Frankfurt and Daniel Payan, Christophe Garaud, Jeffrey Fouts, and Gregory De Saxcé in Paris.
