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India: Cement mogul emerges as possible buyer of Holcim, Lafarge sales

By  |  October 14, 2014

The head of India’s largest cement maker has reportedly emerged as a possible acquirer of assets to be sold by Holcim and Lafarge in preparation for their merger.

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    Billionaire Kumar Mangalam Birla, who owns UltraTech Cement, is said to be considering a bid for the assets by the merging cement companies, unnamed sources said. The tycoon is particularly interested in Latin American assets.

    Lafarge and Holcim are expected to sell up to $6.3 billion worth of assets in order to secure approval for their $40 billion merger.

    While sources say Birla is a potential buyer, reports say other cement companies and private-equity firms have emerged as possible bidders, including Germany-based HeidelbergCement and Mexico’s Cemex.

    Full content: Businessweek

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