Cement News tagged under: Nirma Cement
India: Nirma raises US$598m to finance Lafarge acquisition16 September 2016, Published under Cement NewsNirma Group, which in July won the race to buy Lafarge India for a reported US$1.4bn, has raised INR40bn (US$598m) from a bond sale to finance the purchase, the Economic Times reports. Nirma has created a special purpose vehicle, Nirchem, which administered the bond sale and will be used in the acquisition process. The sale, the largest of its type, was oversubscribed, with investors attracted by the 8.68 per cent yield, seen a decent price given Nirma’s AA credit rating. |
India: Nirma to acquire Lafarge India for US$1.4bn11 July 2016, Published under Cement NewsLafargeHolcim has announced that it has reached agreement with Nirma Group for the sale of Lafarge India. The deal - valued at US$1.4bn - will see Nirma acquire assets that include 11Mta of grinding capacity and several limestone quarries. Nirma has won out against four other bidders: China’s Anhui Conch, Mexican firm Cemex, and domestic firms JSW Cement and Piramal Group. The Competition Commission of India still needs to approve the move, but given Nirma’s small existing presence in the... |
Deadline day reached for Lafarge India bids04 July 2016, Published under Cement NewsToday (4 July) sees the passing of the deadline by which bidders must submit binding offers for Lafarge India's assets. According to press sources, five companies – three domestic and two foreign – are in the running for the facilities, which include production capacity of 11Mta. The five firms submitting their bids today are: Cemex, Anhui Conch, JSW Cement, Piramal Enterprises and the Nirma Group. Of the five, only JSW Cement has a significant presence in the Indian market: the company h... |
India: Mahuva farmers fined for opposing proposed Nirma cement plant24 June 2013, Published under Cement NewsThe National Green Tribunal (NGT) has imposed a fine of INR100,000 (US$1675) on farmers and on the Union Ministry of Environment & Forest (MOEF) who opposed Nirma Ltd's proposed cement plant situated at Mahuva, Bhavnagar district. The tribunal imposed the fine on the two parties on 6 June, while dismissing two of their applications that sought to stay one of the tribunal's orders and terming the applications as "vexatious and abuse of process of law". The controversy related to the propo... |
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