June 15, 2015 / 4:11 PM / 4 years ago

Lafarge to pay $304 million for India buyout

A concrete mixing truck is seen at French building material Lafarge concrete production plant in Paris, France, April 28, 2015. REUTERS/Benoit Tessier

PARIS (Reuters) - French cement maker Lafarge LAFP.PA will pay Baring Private Equity 270 million euros ($304 million) to acquire the fund’s 14 percent stake in Lafarge India, the company said on Monday.

The buyout deal, which will return the Indian subsidiary to 100-percent ownership, is conditional upon completion of Lafarge’s merger with rival cement maker Holcim HOLN.VX, the company said.

Reporting by Laurence Frost; Editing by Andrew Callus

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