The merger of Holcim-Lafarge has been on the anvil for sometime and is likely to have huge implications in India as well because it has to go through the scrutiny of the Competition Commission of India (CCI) said Anil Singhv of ICAN Investments.
certain capacities will perhaps be asked to be sold for this to be (CCI) compliant
Anil Singhvi
Chairman
Ican Investment Advisors
Swiss giant Holcim and the world's largest cement producer Lafarge Board has unanimously approved a merger, which is expected to close by June 2015. This merger will lead to a setting up of mega cement company with a combine sale of euro 32 billion and having presence across the world.
Anil Singhvi, chairman, ICAN Investments and former MD and CEO of Ambuja Cements , said the Holcim-Lafarge merger was a big development even locally because both have significant capacity in India.
According to him, the merger has been on the anvil for sometime and is likely to have huge implications in India because it has to go through the scrutiny of the Competition Commission of India (CCI).
However, since it is a merger, it may not have open offer implications.
"This merger will have certain implications on Competition Commission and certain capacities will perhaps be asked to be sold for this to be compliant; so as not to have the monopoly or oligopolistic situation," said Singhvi
In India, Holcim operates through its two major subsidiaries, Ambuja Cement and ACC , which have combined annual cement production capacity of 45 million tonnes. Boththe companies among the major Indian cement manufacturers.
However, unlike Holcim, Lafarge has a small presence in India with 4 cement plants having a total production capacity of 8 million tonnes. The company had entered India in 1999.
With inputs from PTI
Ambuja Cements stock price
On April 07, 2014, at 14:12 hrs Ambuja Cements was quoting at Rs 206.95, up Rs 3.70, or 1.82 percent. The 52-week high of the share was Rs 211.90 and the 52-week low was Rs 147.55.
The company's trailing 12-month (TTM) EPS was at Rs 8.37 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 24.73. The latest book value of the company is Rs 61.34 per share. At current value, the price-to-book value of the company is 3.37.
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