India: Dalmia removes barrier to Lafarge-Holcim merger

India: Dalmia removes barrier to Lafarge-Holcim merger
Published: 10 May 2016

Tagged Under: Dalmia Cement Lafarge Holcim 

An application for withdrawal made by Dalmia Cement Ltd has been accepted by The Competition Appellate Tribunal (COMPAT). Dalmia Cement had previously challenged an approval given for the merger by the Competition Commission of India (CCI). Dalmia Cements cited recent developments in the Mines and Minerals Act and uncertainties in legislation regarding mining and prospecting licences as reasons for the appeal being unwarranted.

A representative of the CCI did not object to the withdrawal, but instead asked the tribunal to impose costs, stating; “From the very beginning, this has been a frivolous appeal. The CCI has spent sufficient time in dealing with it”. The tribunal opted to refrain from imposing costs. This dismissal has finally cleared a path for the Lafarge-Holcim merger in India.