Deadline nears for LafargeHolcim India assets bids

Deadline nears for LafargeHolcim India assets bids
05 April 2016

Advisors to the sale of LafargeHolcim's 11Mta Indian cement production capacity say that they expect to receive seven to eight bids before next week's deadline.

The sale - which was a required by competition authorities - has attracted the attention of a number of private equity firms. According to reports by India’s Mint newspaper, Temasek Holdings, Advent International, Barings Asia Private Equity, Blackstone, Aion Capital and the investment arm of Piramal Group are all evaluating the deal, as is Singapore’s sovereign wealth fund, GIC. 

In addition, the paper reports that Shree Cement, JSW Cement and CRH have expressed interest. However, Prashant Bangur, joint managing director at Shree Cement, denied that his company was looking to buy the assets, stating “we are not looking at Lafarge”.

A JSW spokesperson would not comment on the deal specifically but told Mint, “JSW Cement wants to clarify that as part of our growth strategy, the company looks to evaluate various opportunities, both organically and inorganically”.

Sources say that the assets could be worth more than US$1.6bn.

Published under Cement News