Nirma to buy LafargeHolcim's India business for $1.4 billion

LafargeHolcim has agreed to sell its Lafarge India business to Nirma Ltd for an enterprise value of around $1.4 billion, the world's biggest cement maker said.

Reuters July 11, 2016 12:36:23 IST
Nirma to buy LafargeHolcim's India business for $1.4 billion

Zurich: LafargeHolcim has agreed to sell its Lafarge India business to Nirma Ltd for an enterprise value of around $1.4 billion, the world's biggest cement maker said on Monday.

Nirma to buy LafargeHolcims India business for 14 billion

LafargeHolcim's CEO Eric Olsen.
Reuters

"This agreement is an important step in our 3.5 billion Swiss franc ($3.56 billion) divestment programme," LafargeHolcim Chief Executive Eric Olsen said in a statement.

"With this deal, two-thirds of the programme 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."

The deal, the proceeds of which will be used to pay down LafargeHolcim's debt, is subject to approval by the Competition Commission of India.

 

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