Finance News

Lafarge acquires Indian concrete company

PARIS (Reuters) - French cement producer Lafarge said on Wednesday it had acquired India's L&T Concrete at an enterprise value of 226 million euros ($349.5 million), reinforcing its exposure to emerging markets and India's booming housing market.

The deal, which Lafarge expects to be accretive to its earnings from 2009, involves 66 concrete plants across India with an estimated volume of 4.1 million cubic meters in 2008.