Aditya Birla Group bids for Lafarge, Holcim units

Aditya Birla Group bids for Lafarge, Holcim units
22 October 2014

India's Aditya Birla Group submitted bids on Monday to buy Holcim and Lafarge assets. UltraTech Cement and other Aditya Birla Group companies have put in bids for Lafarge and Holcim plants in Brazil and the Philippines, valued at US$1.4bn.

The group had started operations in the Philippines several years ago and earmarked Brazil as a key place for expansion three years ago.

"Aditya Birla group will be unable to bid for assets carved out of the Lafarge-Holcim merger in some of the market, including India, as a purchase will lead to monopoly in these markets," a consultant close to the group was quoted by The Economic Times.

"Hence it is seeking to purchase assets in the growing markets in Brazil and the Philippines which are investing heavily in infrastructure and housing."

Aditya Birla is owned by Kumar Mangalam Birla, who took the helm in 1995. Since the group has completed 36 acquisitions in 20 countries. Over 50 per cent of its revenues is derived overseas.

Published under Cement News