LafargeHolcim to sell Lafarge India for $1.4 billionStaff Writer | July 12, 2016
LafargeHolcim announces it has entered into a deal agreement with Nirma Limited for the divestment of its interest in Lafarge India for an enterprise value of approximately .
Selling Lafarge India operates three cement plants
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.
LafargeHolcim will continue to operate in India through its subsidiaries ACC Ltd. and Ambuja Cements Ltd. with a combined cement capacity of more than 60 million tonnes and a distribution network that extends across the entire country.
The transaction with Nirma Limited as a purchaser will be submitted to the CCI for approval.
LafargeHolcim has a divestment target of CHF 3.5 billion in 2016 and has already completed the sale of its business in South Korea and signed an agreement to divest its minority shareholding in Saudi Arabia.
LafargeHolcim has also expanded its joint-venture with SNI, its historical partner in Morocco, by merging Lafarge Ciments Maroc and Holcim Maroc to create LafargeHolcim Maroc. ■