Lafarge in talks to sell stake in Indian unit for $300 mln-sources

MUMBAI Wed Dec 19, 2012 11:32pm EST

MUMBAI Dec 20 (Reuters) - French cement maker Lafarge SA is in talks with private equity and financial firms to raise about $300 million by selling around a 20-25 percent stake in its India unit, two sources with direct knowledge of the matter told Reuters.

The deal would value the Indian operations at around $1.2 billion.

The world's largest cement maker is also weighing an option to exit India entirely if they get a strategic investor to buy out its entire operations in the country, said the sources, who declined to be named as the negotiations were private.

Lafarge is in talks with a slew of firms, including Kohlberg Kravis Roberts and Co. and Temasek, said the two sources.

KKR declined to comment. Lafarge and Temasek were not immediately available for comment.