New Delhi, Aug 17 (IANS): The cement industry in the country has seen a number of acquisitions and mergers over the past decade as foreign players like Lafarge, Holcim, Heidelberg and others began to enter the Indian market opting for the brownfield route.
Homegrown companies, too, have been active in this area.
Some of the major deals over the last decade:
2005: Holci acquires stake in ACC at an enterprise value of $111 per tonne. Later acquires stake in Ambuja Cement in 2006 at an enterprise value of $193 per tonne.
2006: Heidelberg Cement Group enters India via a 50:50 joint venture in Indorama Cement and acquires majority stake in Mysore Cement.
2008: Heidelberg Cement Group acquires balance stake in Indorama Cement and merges operations of the same with Mysore Cement forming Heidelberg Cement India. Capacity of the company increases to 3.07 mtpa.
November 2011: Jaypee Group purchases controlling stake in GP Goenka Group's Andhra Cements for an estimated Rs.280 crore.
September 2013: UltraTech bought the 4.8-million tonne Gujarat unit of Jaiprakash Associates for an enterprise value of Rs.3,800 crore in its biggest acquisition in more than two years.
March 2014: Ambuja Cement first acquires 24 percent stake in Holcim India for Rs.3,500 crore, followed by a merger of Holcim India into Ambuja Cements. This resulted in Ambuja Cements holding 50 percent stake in ACC, which is a 50 percent subsidiary of Holcim India.
December 2014: Ultratech acquires two plants from Jaiprakash Associates in Bela in Madhya Pradesh for an enterprise value of Rs.5,400 crore.
February 2015: Dalmia Cement raised its stake holding in OCL India from 48 percent to 74.6 percent through an inter-share transfer with a deal value of Rs.1,023 crore.
April 2015: Competition Commission of India gives nod for Holcim-Lafarge merger deal estimated at $40 billion that would create the world's largest cement group. It directed Lafarge to sell its two plants in India to address anti-competition concerns.
April 2015: Shree Cement completes acquisition of a cement-grinding unit of Jaiprakash Associates at Panipat in Haryana for Rs.358 crore.