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PE interest in HeidelbergCement India?

World Cement,

It looks like another private equity (PE) deal could be on the cards in India, as speculation is rife about PE interest in HeidelbergCement. Not long after Lafarge SA sold a 14% stake in its Indian subsidiary to Baring Private Equity Asia for €200 million, it is being reported that Bain Capital is looking into acquiring a little over 10% of HeidelbergCement India, with other PE firms also potentially interested. The Lafarge sale was the largest PE acquisition in the domestic cement industry to date.

HeidelbergCement India has two integrated cement plants and two grinding plants in India. It completed an expansion of its clinker and grinding lines in central India earlier this year, bringing capacity from 3.1 million t to 6 million t. The company has not commented on the reports that it is selling off a minority stake, but the rumours have already pushed share prices up by almost 8%.

Edited from various sources by Katherine Guenioui.

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