Lafarge to buy back Baring stake in Indian unit

Lafarge to buy back Baring stake in Indian unit
21 January 2015

Lafarge India is reportedly buying back the 14.03 per cent stake it sold to global private equity investor Baring Private Equity Asia in 2013.

Through its wholly-owned subsidiary Paris Cement Investment Holdings, Barings Asia acquired a 14.03 per cent stake in Lafarge India for EUR200m.

According to local press reports, the share agreement with the PE fund is said to have a clause which triggers a buyback case in case there is any change in the shareholding structure. With Lafarge and Holcim planning to merge, Barings would be exiting the investment in less than two years.

The Lafarge and Holcim deal is still awaiting clearance by the Competition Commission of India. A decision is likely to be announced “within a month,” the watchdog’s chairman said on Monday.

Published under Cement News