lafarge-india-buys-lt-concrete

Lafarge India buys L&T Concrete

Lafarge spends $350 million on its third Indian acquisition to cement its position in readymix concrete.
Lafarge is to acquire L&T Concrete in India from Larsen & Toubro for a firm value of Ç226 million ($350 million)

L&T Concrete comprises 66 concrete plants located across India, in markets such as Delhi, Kolkata, Mumbai and Bangalore It has an estimated market share of 25% Citi is advising Larsen & Toubro on the deal

Larsen & Toubro sold its cement division to Kumar Mangalam Birla in 2004 but held on to its readymix concrete business In December 2007 it transferred the readymix business to a subsidiary, leading to market speculation that it was considering either a sale or a separate listing of the business

Lafarge says the acquisition will be earnings accretive from...
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