LafargeHolcim's entire 11 million tonne per annum annual capacity in India is being sold, it is reported. The latest development comes after the Switzerland-based cement company's deal with Birla Corporation (BCL) to sell 5.1 million tonne/year capacity in the country hit a roadblock. As announced on 4 February 2016, LafargeHolcim and BCL were no longer in talks for the sale of the Sonadih and Jojobera cement plants in eastern India. Lafarge India’s decision to cancel the deal, however, has not be
LafargeHolcim’s entire 11 million tonne per annum annual capacity in India is being sold, it is reported.
The latest development comes after the Switzerland-based cement company’s deal with Birla Corporation (BCL) to sell 5.1 million tonne/year capacity in the country hit a roadblock.
As announced on 4 February 2016, LafargeHolcim and BCL were no longer in talks for the sale of the Sonadih and Jojobera cement plants in eastern India.
Lafarge India’s decision to cancel the deal, however, has not been accepted by BCL.
The company is now taking legal measures in consultation with lawyers.
The merger of Ambuja Cements and ACC, which are Holcim’s units, and Lafarge India, would allow it to become the dominant player in east India.
Lafarge had been directed by the Competition Commission of India to sell its units there. Following that, Lafarge and BCL sealed an agreement for the sale of the Sonadih and Jojobera plants.
