According to reports, India’s Aditya Birla Group, which owns UltraTech Cement, has made a bid for the Brazilian and Filipino assets of Holcim being divested as part of its merger with Lafarge. The Swiss cement group has three integrated plants, two grinding plants and a ready-mix plant in Brazil and three units in the Philippines. The enterprise value of the assets is said to be around US$1.5 billion. The deadline for bids passed on 20 October. The company has declined to comment thus far, though it confirmed last week that it always looked at opportunities as they came up.
UltraTech Cement is the largest cement manufacturer in India with a total capacity of 62 million t. It currently has facilities in UAE, Bahrain and Bangladesh, but the proposed acquisitions would turn the company into a truly global player.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/21102014/aditya-birla-reportedly-bids-for-holcim-assets-in-brazil-and-philippines-705/