French-based international building material group Lafarge is to raise €200 million to speed development in India. It has signed an agreement to raise the finance through capital increase subscribed by Baring Private Equity Asia, and representing a 14% minority stake in its Indian subsidiary, Lafarge India. The transaction, which is subject to the approval of local regulatory authorities, will accelerate Lafarge’s growth plans in India in all its product lines: cement, aggregates and concrete.
French-based international building material group Lafarge is to raise €200 million to speed development in India.
It has signed an agreement to raise the finance through capital increase subscribed by Baring Private Equity Asia, and representing a 14% minority stake in its Indian subsidiary, Lafarge India. The transaction, which is subject to the approval of local regulatory authorities, will accelerate Lafarge’s growth plans in India in all its product lines: cement, aggregates and concrete.
Lafarge says India is an important market for the group which has been present in this fast-evolving market for the past 15 years. The group says it will continue to grow in India and provide innovative products and solutions to accompany India’s urbanisation needs, particularly in the housing and infrastructure sectors.
Baring Private Equity Asia is one of the largest and most established independent private equity companies in Asia and advises funds that manage over US$5 billion (€3.9 billion) in committed capital.
