Lafarge-Holcim merger in jeopardy: COMPAT stays deal

In what will be a setback for the Rs 10,000 crore Lafarge-Holcim merger, the Competition Appellate Tribunal (COMPAT) has stayed the deal on Wednesday.

This is seen as a victory for Dalmia Cement, which had challenged the sale process.

The Competition Commission of India had approved this merger in March last year, on condition that Lafarge would sell two of its cement plants, located in Chhattisgarh and Jharkhand.

However, Lafarge was unable to sell due to restrictions in Mines and Minerals Development and Regulation (MMDR) Act, which was recently amended to allow for sale of captive mines.