Lafarge, the world's second biggest cement maker after Holcim, said it agreed to buy Larsen & Toubro's (L&T's) ready-mix concrete (RMC) business for an enterprise value of Rs 1,480 crore ($349 million) as part of its plan to expand into emerging markets and establish its leadership in India.
Lafarge will buy 66 concrete plants of L&T located in key markets, including Delhi, Kolkata, Mumbai and Bangalore, with a total estimated volume of 4.1 million metric cubic capacity in 2008.
With this acquisition, Lafarge's third in the country, the French firm will lead the Indian RMC market and capture a market share of 25 per cent in India.
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