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Nirma raises Rs.4,000 crore debt to fund Lafarge deal

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The money for funding the deal was raised by Nirchem, a Special Purpose Vehicle created by Nirma for the Lafarge buyout.

Ahmedabad-based detergent major Nirma has raised Rs 4,000-crore debt to buy the cement business of French major Lafarge India, reports the Mint newspaper. The deal had been agreed upon in July. "The Rs 4,000-crore five-year bond sale by Nirma offers a yield of 8.68 per cent, and was oversubscribed 1.5 times. This is the largest rupee bond sale for a leveraged acquisition as also the largest AA-rated debt instrument," investment banking sources have been quoted as saying in news reports. The money for funding the deal was raised by Nirchem, a Special Purpose Vehicle created by Nirma for the buyout. The company appointed Barclays, Credit Suisse and IDFC for managing the issue. The issue had been closed successfully and would be listed on the exchanges.

In July this year, Swiss cement giant Lafarge-Holcim had announced that it was entering an agreement to sell its assets in Lafarge India to Nirma for $1.4 billion or Rs 9,400 crore to get clearance from the fair trade regulator Competition Commission of India (CCI) for the deal as part of the global merger. The agreement, part of the building material major?s 3.5 billion Swiss franc (about $3.6 billion) divestment plan, is crucial for approval from CCI for the multibillion dollar global merger between Lafarge and Holcim that was announced last year.

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Concrete

thyssenkrupp Polysius, SaltX partner for electrified production

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thyssenkrupp Polysius and Swedish startup SaltX have signed a Letter of Intent (LOI) to co-develop the next generation of electrified production facilities, advancing industrial decarbonisation. Their collaboration will integrate SaltX’s patented Electric Arc Calciner (EAC) technology into thyssenkrupp Polysius’ green system solutions, enabling electric calcination, replacing fossil fuels with renewable energy, and capturing CO2 for emission-free production. Dr Luc Rudowski, Head of Innovation, thyssenkrupp Polysius, emphasised that this partnership expands their portfolio of sustainable solutions, particularly in cement, lime, and Direct-Air-Capture (DAC). Lina Jorheden, CEO, SaltX, highlighted the significant CO2 reduction potential, reinforcing their commitment to sustainable industrial processes.

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Concrete

Terra CO2 secures $82m to scale low-carbon cement technology

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Terra CO2, a US-based sustainable building materials company, has raised $82 million in Series B funding, co-led by Just Climate, Eagle Materials and GenZero, with continued support from Breakthrough Energy Ventures. The investment will accelerate the commercial deployment of Terra’s OPUS technology, enabling the construction of multiple production facilities across North America and Europe. With the cement industry responsible for 8 per cent of global CO2 emissions, Terra’s solution provides an immediate, scalable alternative using abundant raw materials that integrate seamlessly with existing infrastructure. The company has secured key partnerships, including a deal with Eagle Materials for multiple 240,000-tonne plants.

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Concrete

Titan Cement Group enters South Asia

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Titan Cement Group has expanded into the South Asian market through a joint venture with JAYCEE, an India-based producer of supplementary cementitious materials. Titan will hold a majority stake in the newly formed company, Atlas EcoSolutions, which will focus on sourcing, processing, marketing, and distributing SCMs globally. This initiative aims to support sustainable construction by promoting alternatives to clinker-based cement. Jean-Philippe Benard, Head of Supply Chain and Energy Development, emphasised that the venture aligns with Titan’s strategy to lead in low-carbon building materials while reinforcing its commitment to sustainability and innovation. The move strengthens Titan’s position in a high-growth market while ensuring long-term access to SCMs.

 

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