LafargeHolcim merger delayed by tribunal in India
Published by Joseph Green,
Editor
World Cement,
Reuters are reporting that a tribunal in India has halted the sale of Lafarge India after an appeal by a rival, delaying the merger of Lafarge and Holcim's Indian operations.
The Competition Appellate Tribunal stayed a February order by antitrust watchdog Competition Commission of India (CCI) permitting the sale of Lafarge India until the next hearing on 9 May.
The CCI's order was challenged by Dalmia Cement, which the tribunal said had been "aggrieved" by the order.
In February, LafargeHolcim announced that it was considering a divestment of its interest in Lafarge India to comply with antitrust rules for the merger of the group's legacy companies.
The group had earlier tried to sell 5.1 million t of Lafarge India's capacity to Indian cement maker Birla Corp Ltd, but the deal was cancelled due to regulatory hurdles.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/indian-subcontinent/14042016/lafargeholcim-merger-delayed-tribunal-india-899/
You might also like
Cemex to divest its operations in the Philippines
Cemex has announced that its subsidiary, Cemex Asia B.V., has signed an agreement with DACON Corporation, DMCI Holdings, Inc. and Semirara Mining & Power Corporation for the sale of its operations and assets in the Philippines.
