CCI to take more time to decide on Holcim-Lafarge deal

Fair trade watchdog CCI will take around two more months before deciding on the proposed Holcim-Lafarge merger deal that would create one of the world's largest cement makers.
The deal between Holcim and Lafarge, both of which have good presence in India, was announced in April this year. There have been concerns that the transaction could raise anti-competitive issues in the Indian market.
Competition Commission of India (CCI) Chairman Ashok Chawla today indicated that the regulator would take more time before deciding on the transaction.
"The Holcim-Lafarge proposal is in works and is in progress. I think we will still take sometime on that. It is not likely to get concluded before another one-and-a-half to two months," he told reporters here.

Swiss major Holcim has controlling stakes in India's two leading cement makers -- ACC Ltd and Ambuja Cements.
Together, ACC and Ambuja Cements have an annual production capacity of about 46 million tonnes. Meanwhile, French entity Lafarge has an annual capacity of around eight million tonnes.
While announcing the deal in April, it was said that after a strategic optimisation of the portfolio through a pro-active divestment process, in anticipation of regulatory requirements, LafargeHolcim would occupy complementary positions.
"Combined operations would include production sites located in 90 countries across all continents with the most balanced and diversified portfolio in the industry," the two companies had said in a joint statement in April.