Private equity firms Glenwood Private Equity and Baring Private Equity Asia have agreed to acquire South Korea-based cement company Lafarge Halla Cement for an enterprise value of KRW560 billion (approximately US$469 million). Global cement company LafargeHolcim is selling the company as part of a broader global divestment program. The transaction is expected to close in the second quarter of 2016 and is subject to customary closing conditions.