Baring Private equity Asia Makes US$256M Investment In Lafarge India
Baring Private Equity Asia (“Baring Asia’) announced today that funds advised by Baring Asia have entered into an agreement to acquire a minority stake in Lafarge India, the affiliate of Lafarge SA in India, for INR 14 billion (US$256 million). The company has an established presence in India and is a market leader in the ready-‐mix concrete business.
Today India is the second-‐largest cement producing country in the world after China. Strong growth in demand for housing and the government’s focus on developing infrastructure is expected to sustain high future growth rates for cement manufacturers in the country.
Jean Eric Salata, CEO of Baring Asia, said, "Lafarge India is an excellent company operating in a high growth market and we look forward to working with Lafarge SA and the company's management to further develop the business.
“Having traditionally partnered with numerous entrepreneurs across Asia, this investment also demonstrates the opportunities for Baring Asia to partner with European and North American corporations in funding the development of their Asian operations."
Richard Barton, Newgate Communications