Temasek Holdings is reportedly among those shortlisted by Lafarge as a potential buyer for a minority stake in its Indian arm.
Lafarge India plans to sell a 20-30 per cent stake to raise INR1325m (US$250m) to fund its INR6000 crore expansion, according to reports by the Economic Times (ET) of India. The sale of the stake is slated for completion by March. Lafarge has decided not to raise more debt to fund its capex but is instead looking at equity financing.
Temasek Holdings is an investment company owned by the Government of Singapore. Also among the frontrunners for the purchase of a share in Lafarge India, according to the ET report, is Baring Asia, one of Asia's oldest marquee private equity investors.