2334 GMT [Dow Jones]--James Hardie appears to have fetched a healthy price for its Fermacell business in Europe, says Citi. James Hardie is selling Fermacell to Swiss building-materials company Holcim for 840 million euros. The company also said it intends to close its European fiber cement business. "Overall, we think this deal makes sense, as it should strengthen balance sheet, and with long term growth now focused on AZEK, Europe was probably a surplus to needs," says analyst Samuel Seow. It has a buy call on James Hardie.
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