LafargeHolcim sells its Indian branch for $1,4 bln

LafargeHolcim sells its Indian branch for $1,4 bln
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LafargeHolcim Group, the Franco-Swiss company producing construction materials, intends to sell its branch in India for $1,4 bln, says the official company’s statement.

Lafarge India owns three cement plants and two grinding stations with a total capacity of about 11 m tons per year. The proceedings from the sale of the Indian branch will be allotted to debt reduction of LafargeHolcim. Meanwhile, the company will continue its operation in India through its subsidiaries, ACC Ltd. and Ambuja Cements Ltd.

French Lafarge and Swiss Holcim, both producing construction materials, agreed the merger deal in March, 2015. According to the contract, 9 shares of LafargeHolcim exchanged for 10 ones of Lafarge. As a result of the deal, the holding company Holcim has been renamed in LafargeHolcim Ltd. At present, LafargeHolcim owns approximately 96,41% of Lafarge shares.