A PYMNTS Company

India: Nirma to buy Lafarge India cement assets for $1.4 billion

 |  July 11, 2016

Global building materials leader LafargeHolcim is to sell its Lafarge Indiaoperation to Nirma for an enterprise value of $1.4 billion, double the value of an earlier Indian asset sale that was controversially scrapped in February.

“This agreement is an important step in our 3.5 billion Swiss francs divestment program,” said LafargeHolcim CEO Eric Olsen. “With this deal, two thirds of the program has been secured and the remainder of the program is well on track.”

Lafarge India operates three cement plants and two grinding stations with a capacity of 11 million tons a year as well as marketing operations and a ready-mix concrete business. LafargeHolcim will use cash from the sale to pay down debt.

Full Content: The Hindu

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.