Swiss cement giant LafargeHolcim today announced agreement for sale of its assets in Lafarge India to soaps and chemicals maker Nirma ltd for $1.4 billion (about Rs 9,400 crore).The deal is subjected to approval from the Competition Commission of India (CCI) also the proceeds from the divestment will be used to reduce debt.

• The agreement, part of the building material major’s 3.5 billion Swiss franc divestment plan, is key to get approval of the fair trade regulator CCI for the multi-billion dollar merger between Lafarge and Holcim that was announced last year.
• Ahmedabad-based Nirma group has presence in soaps, detergents, salt, soda ash, caustic soda, cement, packaging, etc. It has 12 manufacturing facilities in India and the US and has a turnover of over Rs 7,300 crore.
• The Swiss giant, with presence in 90 countries, will continue to operate in India through its subsidiaries ACC and Ambuja Cements with a combined capacity of over 60 MTPA.
• Lafarge India operates 3 cement plants and 2grinding stations with capacity of about 11 million tonnes a year.