Cement firms and private equity funds submit EoIs for Lafarge India's assets

The Financial Express of India has reported sources saying that Indian cement producers including Piramal Group and JSW as well as foreign cement firms such as CRH, Heidelberg Cement and Votorantim Group of Brazil are likely to have submitted expressions of interest (EoI) to bid for Lafarge India's assets. Private equity funds including Blackstone and KKR are also likely to be among list of bidders to acquire Lafarge India's 10.75 million tonne capacity business, reports the online business newspaper. Th
March 9, 2016 Read time: 2 mins

The Financial Express of India has reported sources saying that Indian cement producers including Piramal Group and JSW as well as foreign cement firms such as 723 CRH, 674 HeidelbergCement and 1729 Votorantim Group of Brazil are likely to have submitted expressions of interest (EoI) to bid for 725 Lafarge India's assets.

Private equity funds including Blackstone and KKR are also likely to be among list of bidders to acquire Lafarge India's 10.75 million tonne capacity business, reports the online business newspaper. The bidding will reportedly begin within a month and Lafarge has appointed Arpwood Capital as adviser for the transaction.

With its annual capacity of 287 million tonnes and year-on-year growth of 8%, many India cement sector experts are forecasting aggressive bidding for Lafarge India's assets. Lafarge’s bid to sell its cement plants in Sonadih and Jojobera to Birla Corporation for INR 55 billion (US$ 821.03 million) last summer was thwarted by regulatory issues.

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