Economy & Market
CCI okays proposed stake sale in Lafarge India
Competition regulator CCI has given its go-ahead to the proposed 14 per cent stake sale in French cement major Lafarge's Indian subsidiary to Baring Private Equity Asia, stating that the deal will not adversely affect competition in the country. The proposed deal comprises the subscription of 14.03 per cent stake in Lafarge India by Paris Cement Investment Holdings, which is a wholly owned subsidiary of Baring.
According to the regulator, the deal will not give rise to adverse competition concerns as neither Paris Cement nor Baring or any of its portfolio companies, are engaged in the business of manufacturing cement in India.