Lafarge in talks with PE firms to sell 20% stake in India unit

French cement maker Lafarge SA is in talks with private equity and financial firms to raise about $300 million( about Rs 6,000 crore) by selling around a 20-25 percent stake in its India unit, two sources with direct knowledge of the matter told Reuters.

[caption id=“attachment_564115” align=“alignleft” width=“380”]  The deal would value the Indian operations at around $1.2 billion. Reuters[/caption]

The deal would value the Indian operations at around $1.2 billion.

The world’s largest cement maker is also weighing an option to exit India entirely if they get a strategic investor to buy out its entire operations in the country, said the sources, who declined to be named as the negotiations were private.

Lafarge is in talks with a slew of firms, including Kohlberg Kravis Roberts and Co. and Temasek said the two sources.

KKR declined to comment. Lafarge and Temasek were not immediately available for comment.

More from Business

Hyundai India’s Rs 27,870 crore IPO oversubscribed by 2.28X, largely driven by institutional investors How Indian fintech startups are driving Malaysia’s UPI-like digital payments revolution

Reuters