CCI okays proposed stake sale in Lafarge India

Competition regulator CCI has given its go-ahead to the proposed 14 per cent stake sale in french cement major Lafarge' Indian subsidiary to Baring Private Equity Asia, saying the deal will not adversely effect competition in the country. The proposed deal comprises the subscription of 14.03 per cent stake in Lafarge India by Paris Cement Investment Holdings -- a wholly owned subsidiary of Baring.

In its order dated June 26, Competition Commission of India (CCI) said that the combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the combination under...the (Competition) Act. According to the regulator the deal would not cause adverse competition concerns as neither Paris Cement nor Baring or any of its portfolio companies is engaged in the business of manufacturing cement in India.