Birla Corp acquires Lafarge assets

Birla Corp has agreed to acquire two cement units of Lafarge India that the French company has to sell, to conclude its global merger with Holcim, beating several multinational giants and bulge-bracket private equity suitors that were also in the running. The entities being acquired are an integrated cement unit at Sonadih in Chhattisgarh and a cement grinding unit at Jojobera in Jharkhand, along with the Concreto and PSC brands. The total capacity of the acquired entities stood at 5.15 mtpa and mineral rights over adequate reserves of limestone, and are being sold through a slump sale for an enterprise value of Rs 5,000 crore. Contact: Birla Corp. Website: www.birlacorporation.com