Lafarge/Holcim's European assets attract Dalmia Bharat
Dalmia Bharat, the India-based cement producer, is in discussions to submit an offer for either a single or several of the cements assets in Europe put up for sale by the France-based Lafarge and the Switzerland-based Holcim, ET Now, citing undisclosed sources.
UltraTech, another India-based cement company, has already begun a process of due diligence after making non-binding offers for certain Lafarge-Holcim plants in The Philippines and Brazil, the TV channel said, and added it is believed that UltraTech is seeking to raise more than USD 1bn already from the market to take part in the concluding bidding round for the assets.
Undisclosed sources indicate it is expected that binding bids would be submitted by a deadline of January 2015, the business news channel said.
Although several available options are being explored by Dalmia Bharat, much would be determined by whether the company possesses the financial muscle to do a large acquisition, the TV channel cited an undisclosed source as saying.
No comment was offered by a spokesperson for Dalmia Bharat.
ET Now