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
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
BARING NON- GLOBAL CCI MMDR CCI LAFARGE LAFARGE BIRLA