LAFARGEHOLCIM

LafargeHolcim enters into agreement with Nirma Limited for divestment­ of Lafarge­ India

LafargeHolcim announced it has entered into a letter agreement with ­Nirma Limited subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately US$ 1.4 billion. Lafarge India operates three cement plants and two grinding stations with a total capacity of around 11 million t/a. The company also markets aggregates and is one of India’s leading ready-mix concrete manufacturers. The proceeds from the divestment will be used to reduce debt further.

Eric Olsen, CEO, said: “This agreement is an important step in our CHF 3.5 billion divestment program. With this deal, two thirds of the program has been secured and the remainder of the program is well on track. We are confident that we will meet our target by the end of this year. With the proposed buyer we have found the right partner who will be able to develop the business further in the interest of all our stakeholders.”

LafargeHolcim will continue to operate in India through its subsidiaries ACC Ltd. and Ambuja Cements Ltd. with a combined cement capacity of more than 60 million t and a distribution network that extends across the entire country. The transaction with Nirma Limited as a purchaser will be submitted to the CCI for approval.

LafargeHolcim has a divestment target of CHF 3.5 billion in 2016 and has already completed the sale of its business in South Korea and signed an agreement to divest its minority shareholding in Saudi Arabia. The Group has also expanded its joint-venture with SNI, its historical partner in Morocco, by merging Lafarge Ciments Maroc and Holcim Maroc to create LafargeHolcim Maroc.

www.lafargeholcim.com

Related articles:

Issue 2016-9 LAFARGEHOLCIM

LafargeHolcim to divest Holcim Lanka

LafargeHolcim has signed an agreement with Siam City Cement Public Company Limited for the divestment of its interest in Holcim Lanka for an enterprise value of US$ 400 million. Holcim Lanka operates...

more
Issue 2019-6 LAFARGEHOLCIM

LafargeHolcim divests activities in Malaysia and Singapore ...

LafargeHolcim has signed an agreement with YTL Cement Berhad for the divestment of its entire 51 % shareholding in Lafarge Malaysia Berhad for a consideration of US$ 396 million fully payable in cash,...

more
Issue 2014-7-8 LAFARGE/HOLCIM

List of proposed asset disposals released

Lafarge and Holcim have taken a further step towards their planned merger of equals to create LafargeHolcim. A Divestment Committee was set up by both companies, following the announcement of the...

more
Issue 2019-1-2 LAFARGEHOLCIM

LafargeHolcim divests Holcim Indonesia

LafargeHolcim has signed an agreement with Semen Indonesia for the disposal of its entire shareholding of 80.6 % in Holcim Indonesia for an enterprise value of US$ 1.75 billion, on a 100?% basis....

more
Issue 2017-6 LAFARGEHOLCIM

LafargeHolcim inaugurates new research lab in Morocco

LafargeHolcim is expanding its commit­ment to innovation by opening a Construction Development Lab (CDL) in Casablanca/Morocco. Dedicated to the Moroccan and African construction markets, the CDL...

more