Five bidders for Lafarge's India cement business

According to various sources, five bidders have been finalised as contenders who will bid for Lafarge's entire Indian operation, which has a total capacity of 11 million tpy. The five firms are Ajay Piramal group, Nirma, Sajjan Jindal's JSW Cement, Mexico's Cemex and China's Anhui Conch Cement company.

Of the five, the three Indian companies have emerged as strong contenders, while the two foreign firms are preparing for entry into India through the sale.

The two foreign companies are expected to submit bids of Rs. 8500 – 9000 crore, whereas the three domestic bidders are believed to be more conservative in terms of bidding and may submit bids worth Rs. 8000 – 8500 crore.

Amongst the five finalised bidders, JSW is the only company that has partnered with a private equity firm. The other four have decided to bid independently.

In February this year, Lafarge had put its entire India business up for sale.

Edited from sources by Joseph Green. Sources: IB Times, Livemint, Economic Times

Read the article online at: https://www.worldcement.com/indian-subcontinent/07072016/five-bidders-lafarge-india-cement-business-482/