Lafarge to sell India assets to Nirma for $1.4 billion

Posted on:12 Jul 2016 18:27:50
Lafarge to sell India assets to Nirma for $1.4 billion
12 July 2016 Current Affairs: Lafarge-Holcim has entered into an agreement with Nirma Ltd to sell its entire 100% holding in cement maker Lafarge India for an enterprise value of $1.4 billion.

The deal is subjected to approval from the Competition Commission of India (CCI) also the proceeds from the divestment will be used to reduce debt.

Lafarge India operates three cement plants and two grinding stations with a total capacity of around 11 million tonnes per annum. 

The company also markets aggregates and is one of India's leading ready-mix concrete manufacturers. The proceeds from the divestment will be used to reduce debt further.

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