Nirma to purchase Lafarge India assets from LafargeHolcim


New DELHI: On Monday Nirma inveterate that it has purchased LarfargeHolcim's India advantage for a venture value of USD Rs 9300 crore plus for a whole capacity of 11 million tonne per annum. Lafarge India function three cement plants and two pulverize stations. Lafarge will use carry on from divestment to decrease debt additional. The assessment is superior to marketplace expectations. The concluding three contenders were Piramal Group, JSW Group and Nirma. In May first report that Nirma had connected the competition to buy this asset. Speculation banker Anil Singhvi conveyed that, LafargeHolcim has got a very high-quality deal and expressed surprise at Nirma's aggressive price to outbid Piramal and JSW's value. He further conveyed that, he was not too anxious with the fact that the Lafarge brand will no longer exist as Nirma too was a very well known domestic brand. He further conveyed that, Nirma will do well.

He conveyed that the contract was improbable to set a new standard for the worth of other cement deals in the offing even as action seems to have compressed up in the room following the recent Jaypee-UltraTech deal. Singhvi conveyed that, I do not see a change in the pricing scenario. LafargeHolcim Chief Executive Eric Olsen conveyed in a report that, this accord is a significant step in our 3.5 billion Swiss franc ($3.56 billion) divestment programme. With this contract, two-thirds of the programme has been protected and the remainder of the agenda is well on track. We are confident that we will meet our objective by the conclusion of this year. The contract, the earnings of which will be used to pay down LafargeHolcim's debt, is theme to endorsement by the Competition Commission of India.