Dalmia Bharat looks at Europe for acquisitions
Reports indicate that Dalmia Bharat is negotiating a bid for one or more European cement assets put on the block by Holcim and Lafarge as part of the global cement deal. UltraTech is also in the race for buying cement units of Holcim and Lafarge which are set to merge. While UltraTech has already initiated due diligence process after placing non-binding bids for units in Brazil and Philippines, Dalmia Bharat is just entered the race exploring the opportunities for a global expansion. UltraTech is already said to be in the market to raise over a billion dollars for participating in the final round of bids. According to sources, the deadline for placing the bids is expected to be in the first half of January 2015.