HeidelbergCement to sell stake in Indian unity to private equity investors?

HeidelbergCement to sell stake in Indian unity to private equity investors?
20 May 2013


HeidelbergCement is reported to be in talks with private equity investors to sell a minority stake in its Indian arm, which could result in the second such deal in the domestic sector in recent weeks.

Speculation is mounting that Bain Capital is conducting a due diligence to pick up around 10 per cent in Heidelberg India according to reports by The Telegraph. Other private equity investors such as Carlyle and Sequoia are also reported to be interested.

Earlier this year HeidelbergCement has recently commissioned 2.9Mta of new capacity at its Damoh plant in the state of Madhya Pradesh and at its Jhansi plant in Uttar Pradesh, taking total domestic cement capacity to 6.2Mta.

Last week, Lafarge raised EUR200m through the sale of a 14.5 per cent equity stake in its Indian unit to Barings Private Equity Asia to fund its growth plans in the country.  

Published under Cement News