Denmark’s FLSmidth (FLS) signed an agreement to divest its cement business to become a pure-play supplier of technology and services to the mining industry. The company announced that it has entered into an agreement with an affiliate of Pacific Avenue Capital Partners, a global private equity firm focused on carve-outs and other complex transactions, for a total initial consideration of EUR 75 million. In the more than 140 years long history in the cement sector FLS has been the global market leader for many years. The divestment allows FLS to sharpen the focus on the core mining business. The transaction is expected to close during the second half 2025, subject to customary closing conditions, including regulatory approval from the relevant authorities.