Nirma $1.4 billion Lafarge India acquisition

Overview:

• Nirma—a regional cement player based in Ahmedabad—has agreed to acquire Indian cement assets from LarfargeHoicim for $1.4 billion.
• The deal is subject to approval by the Competition Commission of India, and will likely be the largest transaction financed by bonds in the country.
• Lafarge India operates three cement plants and two grinding stations with a total capacity of around 11 million tonnes per annum. It is also marketed as one of India's ready-mix concrete manufacturers.
• LafargeHolcim will continue to operate in India through its subsidiaries ACC and Ambuja Cements with a combined cement capacity of more than 60 mtpa.
• Pinsent Masons (Andrew Kerr, Joanna Owit) acted as Nirma's international legal counsel.
• Freshfields Bruckhaus Deringer acted for LafargeHolcim alongside AZB & Partners in Mumbai.

Candy Chan - Journalist - Asia-Pacific