Birla might sue Lafarge-Holcim after INR 50bn deal failed

Birla Corporation (Birla) of India is said to be discussing with legal advisors to sue LafargeHolcim after Birla's plan to buy two cement plants worth INR 50 billion (€679.98 million/US$736.49 million) from Lafarge India (Lafarge) did not materialise. It is claimed that Lafarge agreed in August 2015 to sell to Birla its integrated cement plant at Sonadih in Chhattisgarh and a cement grinding unit at Jojobera in Jharkhand along with PSC and Concreto cement brands. The two plants have annual capacity o
February 3, 2016 Read time: 1 min

Birla Corporation (Birla) of India is said to be discussing with legal advisors to sue 8161 LafargeHolcim after Birla's plan to buy two cement plants worth INR 50 billion (€679.98 million/US$736.49 million) from Lafarge India (725 Lafarge) did not materialise.

It is claimed that Lafarge agreed in August 2015 to sell to Birla its integrated cement plant at Sonadih in Chhattisgarh and a cement grinding unit at Jojobera in Jharkhand along with PSC and Concreto cement brands.

The two plants have annual capacity of 5.15 million tonnes and both units come with mineral rights for limestone reserves.

LafargeHolcim is reported as saying that it is no longer in discussions with Birla over sale of its plants in Jojobera and Sonadih.

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India: LafargeHolcim's 11 million tonne/year capacity to be sold

LafargeHolcim's entire 11 million tonne per annum annual capacity in India is being sold, it is reported.

The latest development comes after the Switzerland-based cement company's deal with Birla Corporation (BCL) to sell 5.1 million tonne/year capacity in the country hit a roadblock.

As announced on 4 February 2016, LafargeHolcim and BCL were no longer in talks for the sale of the Sonadih and Jojobera cement plants in eastern India.

Lafarge India’s decision to cancel the deal, however, has not be

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