India: Reuters is reporting that the French cement giant Lafarge is in talks with private equity and financial firms to sell a 20-15% stake in its Indian unit, Lafarge India Pvt Ltd, which encompasses four cement plants, for about US$300m. It could also sell 100% of its Indian unit if a 'strategic' buyer is found.
With a capacity of 7.75Mt/yr across Lafarge India's plants, a US$1.2bn valuation of the assets gives an approximate asking price of US$154/t of installed capacity.
If Lafarge finds a buyer the move will continue a recent series of cement asset sales, notably in the US and the UK.
