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Birla Corporation to move court against Lafarge-Holcim

Claims Lafarge India expressed inability to proceed with Rs 5,000-crore cement plant deals

Birla Corporation to move court against Lafarge-Holcim over Rs. 5,000 crore cement plants deal

Kolkata-based Birla Corporation’s Rs 5,000-crore deal with Lafarge India to buy two cement units has gone sour, with the former planning to seek a legal solution. In a regulatory filing with the BSE, the company said it “is in the process of taking appropriate legal measures in consultation with lawyers.” It claimed Lafarge had stated its “inability to proceed with the agreement.” In August last year, the companies had struck a deal with an enterprise value of Rs 5,000 crore, whereby M P Birla group's flagship company was to acquire the integrated ...