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LafargeHolcim deal finally gets CCI green light with CAM assist [CORRECTION]

Late Monday night, LafargeHolcim said the Competition Commission of India (CCI) has cleared the deck for one part of its India plans, which involves selling Lafarge’s cement business in the country. Mint reported that the deal to sell its entire cement portfolio could be valued at Rs 10,000 crore and that deal will now likely go through.

However, LafargeHolcim’s struggle with the regulatory red tape will not end there, as the company is still awaiting clearance from the Foreign Investment Promotion Board (FIPB) for its 2013 restructuring plan involving its units ACC Ltd and Ambuja Cement Ltd. The plan was submitted for FIPB approval in October 2013.

reported http://www.livemint.com/.

Initially, AZB & Partners with Vinod Thall-TTA drafted in on competition aspect acted for Lafarge, while Holcim was represented by Cyril Amarchand Mangaldas, Legally India had reported in August of last year following the CCI order for the to-be-merged $44bn entity to slim down, which it did by divesting Rs 5,000 crore of cement plans to Birla.

After the deal with Birla fell apart acrymoniously, it is understood that Cyril Amarchand took over as the lead counsel on the Lafarge Holcim merger.

Correction: The original version of this story erreneously stated that AZB and Vinod Dhall-TTA had also acted on the second leg of the deal.

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