Aiming to expand its global footprint, Aditya Birla Group flagship firm Ultratech Cement has bid for Brazilian and Philippine assets of Holcim-Lafarge, according to sources.
The country's largest cement maker has already submitted the bid though it might not participate in a bidding war to get the assets from interested parties, which include a grouping of private equity firm, sources added.
Monday was the last day for submitting the bid.
An Aditya Birla Group spokesperson declined to comment. However, the company reiterated its earlier answer to exchange queries today evening, saying,"... That in the course of business, the company evaluates various proposals on a regular basis."
"As of now there is no proposal which has reached the stage which would trigger Clause 36 of the Listing Agreement. We would, as in the past, promptly inform you of any event or information that may have a bearing on the performance/ operations of the Company," it added.
Ultratech Cement has an installed capacity of 62 million tonnes per annum (mtpa) of grey cement. The company has 12 integrated plants, one clinkerisation plant, 16 grinding units and 6 bulk terminals.
Besides India, it has operations in the UAE, Bahrain, Bangladesh and Sri Lanka. UltraTech Cement is also India's largest exporter of cement reaching out to meet the demand in countries around the Indian Ocean and the Middle East.
The assets would help the company to catch the booming markets in growing economies of Brazil and Philippines.
Holcim has three integrated cement plants, two grinding stations and one ready-to-mix facility in Brazil, while it has three units in Philippines.
