LafargeHolcim divests Lafarge India

Monday, 11. July 2016 09:02

LafargeHolcim said it decided to sell Lafarge India for $1.4 billion to Nirma Limited. The deal is subject to the Competition Commission of India’s (CCI) approval, LafargeHolcim said in a press release on Monday.

However, LafargeHolcim will resume its operations in India through its subsidiaries ACC Ltd. and Ambuja Cements Ltd, which have the capacities to distribute cement around the country.

Selling Lafarge India is an “important step” in the company’s 3.5 billion Swiss franc divestment program which aims to reduce debt, LafargeHolcim’s CEO Eric Olsen said.

Earlier this year, the building materials manufacturer sold its operations in South Korea and Saudi Arabia.

 

Image: EPA / Patrick B. Kraemer

 

Related Links: 
Author:
Breaking the News / TR