Skip to main content

LafargeHolcim and Birla Corporation enter into agreement

Published by
World Cement,


LafargeHolcim has announced that it has entered into a letter agreement with Birla Corporation Limited.

The agreement is subject to approval by the Competition Commission of India (CCI) for the divestment of certain assets in India as part of the merger of its legacy companies for an enterprise value of INR50 billion.

The proceeds from the sale of the divestment business will be used to further reduce debt.

LafargeHolcim has received conditional clearance from the CCI for the merger. A package of assets for divestments had been agreed with the CCI which includes the Sonadih cement plant and Jojobera grinding station in Eastern India currently operated by Lafarge India. The two plants have an annual cement capacity of 5.15 million t.

The transaction with Birla Corporation Limited as a purchaser will be submitted to the CCI for approval and is subject to other regulatory approvals and customary conditions.


Adapted from press release by Joseph Green

Read the article online at: https://www.worldcement.com/asia-pacific-rim/17082015/lafargeholcim-birla-corportation-enter-agreement-329/

You might also like

 

 WCT2021

WCT2021

At WCT2021 you will hear from a range of industry leaders and technical experts as they discuss the key challenges facing the cement industry and the latest solutions on offer. Register for free today »

 

CEMEX strengthens presence in Guatemala

The company has announced that, as part of its growth strategy, it will increase capacity in Guatemala with the construction of a new cement grinding mill that is expected to be completed in early 2023.

 
 

Embed article link: (copy the HTML code below):