August 18, 2015
Acquisition of Lafarge India's cement plants by Birla Corporation Limited
Birla Corporation Limited (“BCL”), a listed company headquartered in Kolkata, has agreed to acquire a part of the business of Lafarge India (Private) Limited (“LIPL) for an enterprise value of INR 5,000 crores (approximately USD 765 million). This business comprises of LIPL’s cement grinding unit at Jojobera (Jharkhand) and the integrated cement unit at Sonadih (Chhattisgarh). The acquisition is subject to regulatory approvals, including approval from the Competition Commission of India.
We, at Nishith Desai Associates, acted as the sole legal counsel to BCL and advised on strategic and legal aspects including legal and tax structuring, due diligence, negotiations and documentation and anti- trust matters.