Holcim keen on stake in Mysore Cement, India

Holcim keen on stake in Mysore Cement, India
Published: 13 June 2006

Industry sources say that after a controlling stake in ACC Ltd and Ambuja Cement Eastern Ltd and buying around 15 per cent in Gujarat Ambuja, Holcim is now keen on acquiring a stake in Mysore Cements Ltd. The SK Birla group company has a capacity of around 2Mt. 
 
 "The deal, if it materialises, will give Holcim a footing in the south Indian market. Gujarat Ambuja is a predominant player in north and west India while ACC is strong in east and north," sources said. 
 
The promoter group holds close to 30 per cent in Mysore Cements through Birla VXL Ltd, Central India Agents, Janardhan Trading, GCC Investment & Trading, Sutlej Cotton Mills Supply Agency and Maya Trade Links. 
 
The delay, sources said, was due to some cross-holdings and due to the fact that a part of the stake was with the Asset Reconstruction Company of India (ARCIL).