The Financial Express reports that Lafarge India has reduced the number of bidders vying to acquire its assets to a shortlist of five: Cemex, Anhui Conch Cement, JSW Cement, Piramal Enterprises and the Nirma Group.
Of the five, only JSW Cement has a significant presence in the Indian market, although Piramal and Nirma both operate in other sectors in the country.
Lafarge India’s assets amount to a capacity of 11Mta and include mining rights. The six plants included in the sale are located in the north and east of the country. Bids are understood to be in the region of US$1.2-1.5bn.