Lafarge To Pay $304 Million For India Buyout

French cement maker Lafarge will pay Baring Private Equity 270 million euros ($304 million) to acquire the fund's 14 percent stake in Lafarge India, the company said on Monday.

 

The buyout deal, which will return the Indian subsidiary to 100 per cent ownership, is conditional upon completion of Lafarge's merger with rival cement maker Holcim, the company said.

 

The merger is expected to result in cost savings of 1.4 billion euros per year, giving the cement maker an advantage over rivals amid reduced demand for building materials due to a slowing world economy.

 

(Agencies)