HeidelbergCement clarifies reports on Lafarge's Indian assets

HeidelbergCement clarifies reports on Lafarge's Indian assets
Published: 24 July 2015

Following local press reports, HeidelbergCement has said it is not buying Lafarge’s assets in eastern India.

The Bombay Stock Exchange had sought clarification from HeidelbergCement India Ltd with regard to a news article that appeared in the The Financial Express yesterday titled: "Heidelberg likely to acquire Lafarges eastern India units."

HeidelbergCement India Ltd replied stating: "Kindly note that HeidelbergCement India Limited is not considering any such proposal at the moment."

JP Morgan comments: "We think this should come as a slight relief to the market, given the current concern around the Indian over capacity situation and HEI’s stated strategy to focus on shareholder cash return."