Pacific Avenue Capital to acquire a cement business from FLSmidth for €150m.

Pacific Avenue Capital, a private equity firm, agreed to acquire a cement business from FLSmidth, a Danish multinational engineering company, for €150m. "The divestment allows us to sharpen our focus on our core Mining business, positioning FLSmidth as a pure-play leader in the mining industry. With a clear and focused Mining strategy, we are confident that we are well positioned to drive long-term value for our customers, shareholders and other stakeholders and enhance our competitive position," Mikko Keto, FLSmidth CEO.