India: LafargeHolcim sale temporarily halted by court

The sale of 11Mta of LafargeHolciim assets in India has been put on hold by India's Competition Appellate Tribunal.

According to Mint an appeal has been lodged by Dalmia Cement (Bharat) Ltd. against the Competition Commission of India’s decision ordering the divestment of Lafarge India. The tribunal's decision will delay the sale process by at least three weeks, until May 9.

Last week saw the close of bidding for the assets - three integrated plants and two grinding plants with a combined capacity of 11Mta – which are valued at around US$1.5bn.