Lafarge Sale Stuck Again as CCI Role comes Un­der Lens

Com­pe­ti­tion tri­bunal stays sale process for 3 weeks on Dalmia plea al­leg­ing CCI went against rules; PEs barred from di­vest­ment may also ap­peal

The Economic Times - - Front Page -

Ra­jat Arora, Ari­jit Bar­man & Baiju Kalesh

New Delhi | Mum­bai: Con­tro­versy threat­ens the re­vised sale of Lafarge’s ce­ment as­sets in In­dia af­ter an ap­peals body stayed the process for at least three weeks fol­low­ing a com­plaint from a ri­val, and the Com­pe­ti­tion Com­mis­sion barred two PE funds from bid­ding for the as­sets. The Com­pe­ti­tion Ap­pel­late Tri­bunal on Wed­nes­day stayed the sale af­ter ri­val ce­ment­maker Dalmia ap­proached it, just a day af­ter pre­lim­i­nary, non-bind­ing bids for Lafarge In­dia’s en­tire 11-mil­lion­tonne ca­pac­ity were sub­mit­ted. On A Shaky Foun­da­tion?

Asia merger asks Lafarge in­vests $256 m of Lafarge to sell 2 In­dia in Lafarge In­dia and units be­fore OKing for 14% stake Hol­cim merger with Hol­cim bind­ing bids sub­mit­ted; Dalmia moves Com­pat bars Bar­ing Asia, KKR from bid­ding Act amended; new sale process be­gins gets sup­ple­men­tary CCI or­der to sell en­tire 11 MTPA In­dia as­sets

SA buys back Bar­ing’s stake for $303.3 m Corp buys 2 Lafarge units for 5kcr; deal fails over mines trans­fer


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