Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Compat stays Holcim-Lafarge merger
  • Business

    Compat stays Holcim-Lafarge merger

    Achin Garg
    Written by
    Achin Garg
    Mail
    Last updated on Apr 15, 2016, 04:48 pm
    Compat stays Holcim-Lafarge merger
    Credits:
  • The Competition Appellate Tribunal (Compat) has stayed the exit of Lafarge from India till the next hearing on 9 May 2016, thus delaying the Lafarge-Holcim merger.

    This comes as a reversal to the Competition Commission of India's (CCI) approval to Lafarge's exit plans from India.

    Dalmia Cements which is opposing the sale process has filed a petition in the Compat against the CCI's decision.

  • In this article
    Lafarge: A profile The Larfarge-Holcim merger What is CCI? CCI approves Lafarge-Holcim merger Birla to acquire 2 plants from Lafarge Lafarge deal to sell plant runs into trouble MMDRA prohibits sale of limestone mines Lafarge to exit India Compat stays Holcim-Lafarge merger
  • About

    Lafarge: A profile

    Lafarge: A profile
    Credits:
  • Established in 1833, Lafarge is a world leading French company that specialises in cement, construction aggregates and concrete.

    Lafarge entered in India in 1999 with the acquisition of Tata Steel's cement activity.

    It has 6 cement plants in Chattisgarh, Jharkhand, Rajasthan, Haryana and West Bengal with a total capacity of 11 million tons.

    In July 2015, Lafarge merged with a Swiss Cement Company, Holcim.

  • Personal

    The Larfarge-Holcim merger

  • French cement major Lafarge and Swiss Cement giant Holcim had announced their merger in 2014 to create the world's largest building material company, LafargeHolcim. However, the merger raised eyebrows of competition regulators in various countries.

  • CCI

    What is CCI?

    What is CCI?
  • Competition Commission of India (CCI) is a regulatory body that ensures fair competition in the market for the welfare of the consumers.

    The CCI checks monopolistic tendencies in the market which may lead to market failure and affect consumer behaviour.

    It approves mergers and acquisitions to ensure that companies do not resort to anti-competitive practices or abuse dominant market positions.

  • 2 Apr 2015

    CCI approves Lafarge-Holcim merger

    CCI approves Lafarge-Holcim merger
  • The Competition Commission of India cleared the merger of Lafarge and Holcim subject to condition that both the companies will have to sell capacities of 5MT in Eastern India.

    Holcim through its control of ACC and Ambuja Cement controled 10.7MT in Eastern India while Lafarge has a capacity of 7.8 MT Eastern India.

    Together they exceeded 40% of the capacity in the region.

  • 18 Aug 2015

    Birla to acquire 2 plants from Lafarge

    Birla to acquire 2 plants from Lafarge
    Credits:
  • Birla Corporation Ltd. announced that it will acquire 2 plants worth 5.15 MT of capacity from Lafarge for Rs.5,000 crores.

    The plants were put on sale after CCI had asked Lafarge to reduce its capacity in Eastern India for a go ahead of the global merger with Holcim.

    However, the purchase by Birla is conditional on the procurement of limestone mining rights by Birla.

  • 3 Feb 2016

    Lafarge deal to sell plant runs into trouble

    Lafarge deal to sell plant runs into trouble
  • Birla Corporation planned to seek legal remedy after Lafarge stated its "inability to proceed with the agreement".

    The finalisation of the agreement would have led to a sale of 2 plants of Lafarge in Eastern India to Birla Corp for Rs.5,000 crores.

    These 2 plants in Chhattisgarh and Jharkhand would have given an edge to Birla in the market.

  • Personal

    MMDRA prohibits sale of limestone mines

  • Lafarge was unable to sell its 2 plants to Birla Corp. because the new Mines and Minerals (Development and Regulation) (Amendment) Act bars the transfer of rights of limestone mines attached to the cement plant.

  • 21 Mar 2016

    Lafarge to exit India

    Lafarge to exit India
  • In order to continue with the merger of Lafarge with Holcim after the plan to sell 2 cement plants in Chhattisgarh and Jharkhand to Birla Corp. ran into trouble, Lafarge would now seek to exit from India.

    Lafarge had taken permission from CCI to sell its 11 million tonnes cement business in India.

    It has received 9 bidders for assets valued at Rs.10,000 crores.

  • 15 Apr 2016

    Compat stays Holcim-Lafarge merger

    Compat stays Holcim-Lafarge merger
    Credits:
  • The Competition Appellate Tribunal (Compat) has stayed the exit of Lafarge from India till the next hearing on 9 May 2016, thus delaying the Lafarge-Holcim merger.

    This comes as a reversal to the Competition Commission of India's (CCI) approval to Lafarge's exit plans from India.

    Dalmia Cements which is opposing the sale process has filed a petition in the Compat against the CCI's decision.

Latest News
  • Prince Harry's James Corden interview caused ''disquiet' at Buckingham Palace?
    Prince Harry's James Corden interview caused ''disquiet' at Buckingham Palace?
    Entertainment
  • Samsung Galaxy M31s becomes cheaper; now starts at Rs. 18,500
    Samsung Galaxy M31s becomes cheaper; now starts at Rs. 18,500
    Science
  • 'Baahubali' writer roped in for 'Sita - The Incarnation'
    'Baahubali' writer roped in for 'Sita - The Incarnation'
    Entertainment
  • BS6 Kawasaki Ninja 300's colors and engine details revealed
    BS6 Kawasaki Ninja 300's colors and engine details revealed
    Auto
  • La Liga, Sevilla 0-2 Barcelona: Records broken
    La Liga, Sevilla 0-2 Barcelona: Records broken
    Sports
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani Gross Domestic Product
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman Football News
BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Farmers Protest Mohammed Bin Salman
Mercedes Europa League Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar
Premier League Big Bang Theory X-Men TATA
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021