<div>Detergent major Nirma has decided to acquire Lafarge India for an enterprise value of approximately $1.4 billion (over Rs 9,000 crore). “LafargeHolcim announces it has entered into a letter of agreement with Nirma subject to approval by the Competition Commission of India (CCI) for the disinvestment of its interest in Lafarge India for an enterprise value of approximately $1.4 billion,” Lafarge said.<br /><br />“The proceeds from the divestment will be used to reduce debt further. LafargeHolcim will continue to operate in India through its subsidiaries ACC and Ambuja Cements with a combined cement capacity of more than 60 million tonnes and a distribution network that extends across the entire country,” Lafarge added. <br /><br />Lafarge India operates three cement plants and two grinding stations with a total capacity of around 11 million tonnes per annum. The company also markets aggregates and is one of India's leading ready-mix concrete manufacturers.<br /><br />Founded by Karsanbhai Patel and headquartered at Ahmedabad in Gujarat, Nirma is one of India's diversified conglomerates with businesses across industrial and consumer products ranging from soaps, detergents, salt, soda ash, caustic soda, cement, packaging and other household products. <br /><br />With over 12 manufacturing facilities in India and the US, Nirma sells its products across six continents and has market leadership across several verticals. The company had sales over $1.1 billion during FY16.<br /><br />“This agreement is an important step in our 3.5 billion swiss franc (CHF) divestment programme. With this deal, two-thirds of the programme has been secured and the remainder of the programme is well on track,” Lafarge Chief Executive Officer Eric Olsen said. <br /><br />“We are confident that we will meet our target by the end of this year. With the proposed buyer we have found the right partner who will be able to develop the business further in the interest of all our stakeholders,” Olsen added.<br /></div>
<div>Detergent major Nirma has decided to acquire Lafarge India for an enterprise value of approximately $1.4 billion (over Rs 9,000 crore). “LafargeHolcim announces it has entered into a letter of agreement with Nirma subject to approval by the Competition Commission of India (CCI) for the disinvestment of its interest in Lafarge India for an enterprise value of approximately $1.4 billion,” Lafarge said.<br /><br />“The proceeds from the divestment will be used to reduce debt further. LafargeHolcim will continue to operate in India through its subsidiaries ACC and Ambuja Cements with a combined cement capacity of more than 60 million tonnes and a distribution network that extends across the entire country,” Lafarge added. <br /><br />Lafarge India operates three cement plants and two grinding stations with a total capacity of around 11 million tonnes per annum. The company also markets aggregates and is one of India's leading ready-mix concrete manufacturers.<br /><br />Founded by Karsanbhai Patel and headquartered at Ahmedabad in Gujarat, Nirma is one of India's diversified conglomerates with businesses across industrial and consumer products ranging from soaps, detergents, salt, soda ash, caustic soda, cement, packaging and other household products. <br /><br />With over 12 manufacturing facilities in India and the US, Nirma sells its products across six continents and has market leadership across several verticals. The company had sales over $1.1 billion during FY16.<br /><br />“This agreement is an important step in our 3.5 billion swiss franc (CHF) divestment programme. With this deal, two-thirds of the programme has been secured and the remainder of the programme is well on track,” Lafarge Chief Executive Officer Eric Olsen said. <br /><br />“We are confident that we will meet our target by the end of this year. With the proposed buyer we have found the right partner who will be able to develop the business further in the interest of all our stakeholders,” Olsen added.<br /></div>
