French cement major Lafarge to raise 200 million euros from Baring Private Equity

MUMBAI: French cement major Lafarge today said it will raise 200 million euros from Baring Private Equity Asia by selling a 14 per cent stake in its Indian subsidiary.

"Lafarge has signed an agreement to raise 200 million euros through capital increase subscribed by Baring Private Equity Asia, and representing a 14 per cent minority stake in its Indian subsidiary, Lafarge India," the company said in a statement.

"This transaction, which is subject to the approval of local regulatory authorities, will accelerate Lafarge's growth plans in India in all its product lines including cement, aggregates and concrete," it said.

The Group will continue to grow in India and provide innovative products and solutions to accompany the country's urbanisation needs, particularly in the housing and infrastructure sectors, the release said.