Construction Industry News
Lafarge India is in talks with the promoters of Meghalaya-based Star Cement for a majority stake in the company. This is a part of the French cement major’s move to step up its operations in the east.
Sources familiar with the developments said, talks between the two have progressed to a due diligence stage. While a deal at $120-$130/tonne valuation seems plausible, the promoters are said to be looking at a considerable premium of $200/tonne. The final deal size, inclusive of debt, could be $250- $275 million ( Rs 1,000- Rs 1,200 crore).
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