April 30, 2017 9:50 AM ET

Construction Materials

Company Overview of Lafarge India Pvt. Ltd.

Company Overview

Lafarge India Pvt. Ltd. produces and supplies construction materials to contractors, builders, developers, architects, and individual home owners in India. The company offers cement, aggregates, and ready concrete; and technical support services. Its products are used in housing, road and railroad, infrastructure, and public/private building markets. The company was founded in 1999 and is headquartered in Mumbai, India. As of October 4, 2016, Lafarge India Pvt. Ltd. operates as a subsidiary of Nirma Limited.

Equinox Business Park

Tower-3, East Wing

4th floor, Off Bandra-Kurla Complex

LBS Marg, Kurla (West)

Mumbai,  400070

India

Founded in 1999

Phone:

91 22 6630 6511

Fax:

91 22 6630 6510

Key Executives for Lafarge India Pvt. Ltd.

Chief Executive Officer
Chief Financial Officer
Age: 70
Executive Vice President and Co-President of Cement Business
Age: 57
Senior Vice President of Legal and Finance
Compensation as of Fiscal Year 2016.

Lafarge India Pvt. Ltd. Key Developments

Three Bidders Remain In Race Lafarge India

Nirma Limited, Piramal Enterprises Limited (BSE:500302) and JSW Cement Limited- with its private equity partners Bain Capital Private Equity and CVC Capital Partners Limited - are the final bidders shortlisted for the acquisition of Lafarge India Pvt. Ltd. Anhui Conch Cement Co. Ltd. (SEHK:914) and CEMEX, S.A.B. de C.V. (BMV:CEMEX CPO) are out of the race, said multiple sources. They were the highest bidders in the non-binding negotiation stage but subsequently submitted a very low bid, said the sources. The deadline for the submission of binding offers was July 4, 2016. Nirma, Piramal and JSW Cement have been called to London to meet the Lafarge brass for one-on-one management meetings. A final decision is expected in a week following which Lafarge will enter into exclusive negotiations with the chosen party. One of the sources stated that Nirma may have emerged as the most aggressive bidder but the final decision may be based on a combination of financial, operational and strategic factors. The selected bids are in the range of INR 85 billion – INR 90 billion. Nirma is being bankrolled by Credit Suisse and BNP Paribas along with a clutch of Indian banks and NBFCs. Standard Chartered Bank is backing Piramals. Bain and CVC, JSW Cement is known to have teamed up with Barclays and Deutsche Bank among others for acquisition financing. "JSW Group is continuously looking for accretive ways to expand its business operations and the Lafarge deal is one avenue that the group is currently evaluating," a company spokesperson told ET.

Update on Five Final bidders For Lafarge

Five bidders who submitted their final bids for Lafarge India Pvt. Ltd.'s 11-million tonne (mt) cement business have been called to London for last leg of discussion starting July 7, 2016. Foreign bidders including, JSW Cement Limited, Anhui Conch Cement Co. Ltd. (SEHK:914), are believed to have bid aggressively to get an entry into the country. Domestic bidders including, Nirma Limited, CEMEX, S.A.B. de C.V. (BMV:CEMEX CPO), Piramal Enterprises Limited (BSE:500302) also submitted their bids on July 4, 2016. The bids have been submitted in the range of INR 80 billion to 90 billion. However, bid price would not be the only criterion for the selection of the winning bid. Lafarge India had submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11-mt asset in India.

Five Final Contenders For Lafarge

JSW Cement Limited, CEMEX, S.A.B. de C.V. (BMV:CEMEX CPO), Piramal Enterprises Limited (BSE:500302), Anhui Conch Cement Co. Ltd. (SEHK:914), Nirma Limited emerged as the strongest contenders to acquire Lafarge India Pvt. Ltd. Piramals are likely to go solo and not partner with Goldman Sachs with whom they were earlier in negotiations with for a consortium. JSW Cement is the only shortlisted one to partner with private equity. All the rest so far have chosen to bid on their own, added the sources mentioned above. Piramals, Nirma, Bain, CVC, Cemex spokesperson declined to comment. Mails sent to JSW Group on Saturday remained unanswered.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 11, 2016
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