French cement major Lafarge has announced plans to raise 200 million euros (Rs. 1,400 crore) 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,” the statement added.
It said the group would continue to grow in India and provide innovative products.