LafargeHolcim considers revised divestment plan for India

LafargeHolcim is to sell its interest in Lafarge India with an annual cement capacity of around 11 million tonnes.

The sale would require the approval of the Competition Commission of India as an alternate remedy for the merger of the group’s legacy companies.

Lafarge is no longer in discussion with Birla Corporation for the sale of the Jojobera and Sonadih cement plants in Eastern India announced earlier.

The Birla proposal involved selling 5.1 million tons capacity by Lafarge India, subject to approval by the Competition Commission along with other regulatory approvals and customary conditions.

“Due to the current regulatory issues relating to the transfer of mining rights captive and critical to the two plants, LafargeHolcim was obliged to submit an alternate remedy to the CCI to ensure compliance with the order,” Lafarge says in a statement.

“The alternate remedy is now under consideration by the CCI. The Group remains in dialogue with the CCI and will communicate any further updates to the divestment process in India in due time.”

Source
LafargeHolcim

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