LafargeHolcim’s Sri Lankan operations eyed by Indian firms
ECONOMYNEXT – Indian cement manufacturers like Dalmia Bharat, Shree Cements and Ramco based in the south are reportedly interested in buying multinational LafargeHolcim’s Sri Lankan operations.
The Economic Times of India reported that these firms have been shortlisted after an initial round of screening and are competing with local Sri Lankan, Chinese and Thai cement makers, and private equity players like Baring Asia.
The island’s largest and sole integrated cement operation was put up for sale as part of the global cement major’s divestment of some units in a global portfolio realignment.
The Indian newspaper quoted multiple sources aware of the developments as saying the Sri Lankan operation of LafargeHolcim assets may get valued at up to $300 million.
(Colombo/June 10 2016)